Sec. 15. The commission shall use the development funds to provide purses and other funding for the activities described in section 9 of this chapter. The commission may pay:
(1) the operating costs of the development programs;
(2) other costs of administering this chapter; and
(3) costs incurred to promote the horse racing industry in Indiana;
from one (1) or more of the development funds. However, the amount used for each state fiscal year from these development funds to pay these costs may not exceed four percent (4%) of the amount distributed to those funds during the immediately preceding state fiscal year under IC 4-35-7-12.
As added by P.L.341-1989(ss), SEC.2. Amended by P.L.229-2011, SEC.59; P.L.256-2015, SEC.8; P.L.268-2017, SEC.14.