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Rule Title: DISTRIBUTION OF SOURCE MARKET FEE FOR ADVANCE DEPOSIT ACCOUNT WAGERING
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Department: COMMERCE
Chapter: BOARD OF HORSE RACING
Subchapter: Advance Deposit Account Wagering
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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8.22.3811    DISTRIBUTION OF SOURCE MARKET FEE FOR ADVANCE DEPOSIT ACCOUNT WAGERING

(1) The licensed hub operator shall agree to pay to the board a source market fee in an amount equal to a percentage, as set forth in its hub contract or license agreement, of the total amount wagered by Montana residents from their accounts with the hub operator.

(2) The source market fee shall be paid monthly, unless otherwise directed by the board, for the source market fee area on all accounts that have Montana as the principal address.

(3) Source market fees from licensed hub operators must be deposited by the board in the board's state special revenue account.

(4) As set forth in 23-4-302, MCA, the board shall pay 80% of the source market fees generated between May 1 and the following April 30 to live race meet licensees based on each live race meet licensee's percentage of the total annual on-track parimutuel handle during the previous live race season. In addition to the statutory language, the total annual on-track simulcast handle during the previous season shall be included in calculating a live race meet's percentage. Prior to the beginning of each year's live race season, the correct percentage must be distributed by the board to each live race meet licensee to be used for race purses or other purposes that the board considers appropriate for the good of the horseracing industry.

(5) As set forth in 23-4-302, MCA, ten percent of the source market fees paid to the board in a calendar year may be retained by the board for the payment of administrative expenses. One-half of the remaining 10% of the source market fees paid to the board in a calendar year must, by January 31 of the following calendar year, be paid to the owner bonus program and the other one-half to the breeder bonus program.

History: 23-4-202, MCA; IMP, 23-4-302, MCA; NEW, 2008 MAR p. 494, Eff. 3/14/08; TRANS, from 32.28.2011, 2015 MAR p. 2252, Eff. 12/25/15.


 

 
MAR Notices Effective From Effective To History Notes
8-22-140 12/25/2015 Current History: 23-4-202, MCA; IMP, 23-4-302, MCA; NEW, 2008 MAR p. 494, Eff. 3/14/08; TRANS, from 32.28.2011, 2015 MAR p. 2252, Eff. 12/25/15.
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