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Michigan Compiled Laws, Chapter 431. Racing, Boxing and Exhibitions § 431.319

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 19.(1) Subject to subsection (2), a race meeting licensee shall pay an amount equal to not less than 25% and not more than 40% of the net commission generated at the licensee's race meeting to a site-specific horsemen's purse account. Money paid into a horsemen's purse account under this act must be deposited in a depository designated by the participating certified horsemen's organizations and distributed by their designated agent as follows:

(a) For purses for live horse races at a licensed race meeting in this state.

(b) Each year, all certified horsemen's organizations that participate in a live race meeting may receive an amount approved by order of the racing commissioner to use for general expenses. Beginning on January 1 and ending on December 31 of each year, the certified horsemen's organization is entitled to not less than 5% of the site-specific horsemen's purse account as ordered by the racing commissioner.

(2) A race meeting licensee shall pay the net commission generated from wagering on live and simulcast racing through the race meeting licensee's third-party facilitator to the pari-mutuel horse racing disbursement account. On the first day of each month after the effective date of the amendatory act that added this subsection,  1 money paid into the pari-mutuel horse racing disbursement account must be distributed as follows:

(a) Fifty percent to be divided equally to each certified horsemen's organization.

(b) Fifty percent to be divided equally to each track licensee.

1 P.A.2019, No 153, Imd. Eff. Dec. 20, 2019.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 431. Racing, Boxing and Exhibitions § 431.319 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-431-racing-boxing-and-exhibitions/mi-comp-laws-431-319/

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