§ 41-4-4.1 - Support of racing division activities – Tax.
SECTION 41-4-4.1
§ 41-4-4.1 Support of racing divisionactivities – Tax. – (a) Notwithstanding the provisions of § 41-4-3 or § 41-3.1-6 eachlicensee conducting racing events under the pari-mutuel system shall collect anadditional five percent (5%) of all money wagered on the multiple pools atracing tracks. "Multiple pools" shall be defined as all forms of wagering otherthan win, place, and show. This five percent (5%) tax shall be over and abovethe schedule of taxes as set forth in § 41-4-3, and shall be distributedas follows:
(1) One and one half percent (1.5%) shall be paid to thedepartment of business regulation and these proceeds shall be deposited asgeneral revenue.
(2) One half of one percent (.5%) shall be paid to owners ofdog kennels who are under contract with a licensee who shall distribute fundsto the owners of dog kennels in a manner consistent with the generally accepteddistribution of dog kennel owners' purses subject to an annual audit by theauditor general or his or her designee.
(3) One and one half percent (1.5%) shall be paid to thelicensee provided that there is at least three hundred forty (340) scheduledperformances during the calendar year.
(4) One and one half percent (1.5%) shall be paid to thestate and revert to the general fund.
(b) Notwithstanding the provisions of § 41-3.1-6 eachlicensee conducting racing events under the pari-mutuel system shall collect anadditional four percent (4%) of all moneys wagered on so called straight (win,place, or show) wagering. This four percent (4%) tax shall be over and abovethe schedule of taxes as set forth in § 41-3.1-6, and shall be distributedas follows:
(1) One percent (1%) shall be paid to the town of Lincoln; and
(2) One percent (1%) shall be paid to owners of dog kennelswho are under contract with a licensee who shall distribute funds to the ownersof dog kennels in a manner consistent with the generally accepted distributionof dog kennel owners' purses subject to an annual audit by the auditor generalor his or her designee.
(3) Two percent (2%) shall be paid to the state and revert tothe general fund.