HB2837 S JUD AM #2 3-5
The Committee on Judiciary moved to amend the bill on page four, section twelve-e, lines fifty-one through fifty-nine, by striking out all of subdivision (1), and inserting in lieu thereof a new subdivision (1), to read as follows:
(1) All source market fees derived from wagers of account holders shall be prorated between the licensees by dividing each licensee’s total handle by the total handle of all West Virginia licensees in the prior calendar year, and distributed as follows:
(A) Ten percent of each horse racing licensee’s prorated amount to the West Virginia Thoroughbred Development Fund; and 10 percent of each dog racing licensees prorated amount to the West Virginia Racing Commission Special Account-West Virginia Greyhound Breeding Development Fund;
(B) Forty-four percent to the purse fund of each prorated licensee;
(C) Forty-four percent to each prorated licensee; and
(D) Two percent to a special fund established by the Racing Commission used for the payment into the pension plan for all employees of the licensed racing association.