§ 1001.10. Pennsylvania Race Horse Development Fund transfers.
(a) Prior to making each Race Horse Improvement Daily Assessment against a licensed gaming entity, the Department will determine the amount of each licensed gaming entity’s gross terminal revenue.
(b) Except as provided in section 1406(a)(2) and (2.1) of the act (relating to distributions from Pennsylvania Race Horse Development Fund), 18% of the gross terminal revenue of each Category 1 licensed gaming entity shall be returned to each active and operating Category 1 licensed gaming entity that conducts live racing subject to the assessment cap in section 1405(c) of the act (relating to Pennsylvania Race Horse Development Fund), and subject to the allocations specified in section 1406(a)(1)(i)—(iii) of the act.
(c) Procedures concerning Pennsylvania Race Horse Development transfers are as follows:
(1) Department personnel will notify the respective licensed gaming entity and Treasury of the actual amount each licensed gaming entity shall be required to deposit in the Department’s Collection Account as determined by the CCS. Deposits shall be made on the same banking day as the date of the notice by the Department.
(2) Moneys shall be transferred by the licensed gaming entity by EFT or other method as the Department may require and shall be deposited in the Department’s Collection Account prior to being transferred to Treasury’s Concentration Account.
(3) System problems or failures, such as power outages and states of emergency, will not excuse the licensed gaming entity from making the required deposits in a timely manner. The licensed gaming entity shall immediately notify the Department and the Board of any of these problems.
(4) The Department will maintain records of the Department’s Collection Account under this chapter and will share information as practicable, to assist Treasury in its reconciliation of deposits to its Concentration Account.
(d) The Department will notify each active and operating Category 1 licensee conducting live racing, Treasury and Office of the Budget of the amounts each active and operating Category 1 licensee conducting live racing will receive. An eligible Category 1 licensee will receive from Treasury a weekly payment from the Pennsylvania Race Horse Development Fund in accordance with the act. The deposits required under section 1406(a)(1)(ii) of the act will be deducted by the Department before making the payment to each active and operating licensee and transferred to the appropriate State fund, under section 1406 of the act.
(1) Payments will be electronically transferred by the Commonwealth and will be available to the licensee by the deadline established by the Department.
(2) Both Treasury and the Department will maintain records of distributions under this chapter and will share information, as practicable, to assist each agency in its reconciliation process.
(e) For purposes of the calculations and distributions of section 1406(a) of the act, live racing will be determined annually, and as a Category 1 licensed gaming entity commences live racing in accordance with section 1303(b) of the act (relating to additional Category 1 slot machine license requirements).
Source The provisions of this § 1001.10 amended December 31, 2010, effective January 1, 2011, 41 Pa.B. 41. Immediately preceding text appears at serial pages (328804) to (328805).
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