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A BILL TO BE ENTITLED
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AN ACT
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relating to the deposit and distribution by the Texas Racing |
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Commission of certain pari-mutuel wagering funds to benefit the |
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Texas-bred program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 3.09, Texas Racing Act (Article 179e, |
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Vernon's Texas Civil Statutes), is amended by adding Subsection (c) |
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to read as follows: |
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(c) This section does not apply to money set aside for the |
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Texas-bred program under Section 6.08(d) of this Act and deposited |
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in the escrow account under Subsection (d-1) of that section. |
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SECTION 2. Section 6.08, Texas Racing Act (Article 179e, |
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Vernon's Texas Civil Statutes), is amended by amending Subsections |
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(d) and (g) and adding Subsection (d-1) to read as follows: |
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(d) A horse racing association shall set aside for the |
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Texas-bred program as provided by Subsection (f) of this section an |
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amount equal to one percent of a live multiple two wagering pool and |
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a live multiple three wagering pool and pay that amount to the |
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commission. |
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(d-1) The commission shall deposit money paid to the |
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commission under Subsection (d) of this section into an escrow |
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account in the registry of the commission. The commission shall |
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distribute the money deposited in the account to the appropriate |
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state horse breed registries for the Texas-bred program in |
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accordance with this section and commission rules adopted under |
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Subsection (g) of this section. |
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(g) The commission shall adopt rules relating to the |
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deposit, accounting, audit, and distribution of all amounts set |
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aside for the Texas-bred program under this section. |
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SECTION 3. (a) The change in law made by this Act to Section |
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6.08, Texas Racing Act (Article 179e, Vernon's Texas Civil |
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Statutes), applies to the deduction from a live multiple two |
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wagering pool and a live multiple three wagering pool for a horse |
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race conducted by a horse racing association on or after the |
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effective date of this Act. |
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(b) As soon as practicable after the effective date of this |
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Act, the Texas Racing Commission shall revise existing rules or |
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adopt new rules as necessary to comply with Section 6.08, Texas |
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Racing Act (Article 179e, Vernon's Texas Civil Statutes), as |
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amended by this Act. |
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SECTION 4. This Act takes effect September 1, 2017. |