(230 ILCS 5/29) (from Ch. 8, par. 37-29)
Sec. 29.
(a) After the privilege or pari-mutuel tax established in
Sections 26(f), 27, and 27.1 is paid to the State from
the monies
retained by the
organization licensee pursuant to Sections 26, 26.2, and
26.3, the remainder of those monies
retained pursuant to Sections 26 and 26.2, except as
provided in subsection (g) of Section 27 of this Act, shall be
allocated evenly to the organization licensee and as purses.
(b) (Blank).
(c) (Blank).
(d) Each organization licensee and inter-track wagering licensee
from the money retained for purses as
set forth in subsection (a) of this Section,
shall pay to an
organization representing the largest number of horse owners and trainers
which has negotiated a
contract with the organization licensee for such purpose an amount equal to
at least 1% of the organization licensee's and inter-track wagering
licensee's retention of the pari-mutuel
handle
for
the racing season. Each inter-track wagering location licensee, from the
4% of its handle required to be paid as purses under paragraph
(11) of
subsection (h) of Section 26 of this Act, shall pay to the contractually
established representative organization 2% of that 4%, provided that the
payments so made to the organization shall not exceed a total of $125,000 in
any calendar
year. Such contract shall be negotiated and signed prior to
the beginning of the racing season.
(Source: P.A. 91-40, eff. 6-25-99.)
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