Section 11-515 - Allocation of takeout. - Maryland Statutes

§ 11-515. Allocation of takeout.
 

(a)  In general.- Except as provided in § 11-516 of this subtitle, the takeout that a licensee deducts from the handle of a race shall be allocated in accordance with this section. 

(b)  Breakage.- A licensee shall: 

(1) keep 50% of the breakage; 

(2) allocate 45% of the breakage for purses; and 

(3) allocate 5% of the breakage to the Maryland-Bred Race Fund. 

(c)  Regular mutuel pool.- From the amount that a licensee deducts from each regular mutuel pool, the licensee shall: 

(1) keep 7.70% of each regular mutuel pool, from which the licensee shall pay 0.25% of each regular mutuel pool to the Maryland Race Track Employees Pension Fund; 

(2) allocate 0.32% of each regular mutuel pool to the Commission for State tax; 

(3) allocate 1.10% of each regular mutuel pool to the Maryland-Bred Race Fund; 

(4) allocate 7.70% of each regular mutuel pool for purses; 

(5) allocate 0.18% of each regular mutuel pool as an additional amount for purses; and 

(6) allocate 1% of each regular mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races. 

(d)  Multiple mutuel pool of 2 horses.- From the amount that a licensee deducts from each multiple mutuel pool on 2 horses, the licensee shall: 

(1) keep 8.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund; 

(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax; 

(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund; 

(4) allocate 8.70% of each multiple mutuel pool for purses; 

(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and 

(6) allocate 2% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races. 

(e)  Multiple mutuel pool of 3 or more horses.- From the amount that a licensee deducts from each multiple mutuel pool on 3 or more horses, the licensee shall: 

(1) keep 11.70% of each multiple mutuel pool, from which the licensee shall pay 0.25% of each multiple mutuel pool to the Maryland Race Track Employees Pension Fund; 

(2) allocate 0.32% of each multiple mutuel pool to the Commission for State tax; 

(3) allocate 1.10% of each multiple mutuel pool to the Maryland-Bred Race Fund; 

(4) allocate 11.70% of each multiple mutuel pool for purses; 

(5) allocate 0.18% of each multiple mutuel pool as an additional amount for purses; and 

(6) allocate 0.75% of each multiple mutuel pool paid to the Maryland Million, Ltd., for purses of Maryland Million races. 
 

[An. Code 1957, art. 78B, § 11; 1992, ch. 4, § 2; ch. 473, § 2; 1997, ch. 750; 1998, ch. 21, § 1; ch. 477; 1999, ch. 291; 2000, ch. 309, § 2; 2001, ch. 29, § 1; 2004, ch. 97, § 3; 2005, ch. 25, § 1.]