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23-111-516. Health insurance.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-516. Health insurance.
From the amount withheld and retained by the dog racing franchise holder pursuant to § 23-111-509, the franchise holder shall set aside for the use and benefit of his or her employees for the purpose of maintaining health insurance benefits, one-half of one percent (0.5%) of all moneys wagered on live racing and on racing performances simultaneously televised by the franchise holder but conducted at another race track facility. This set-aside shall be in addition to any other credits or payments made by the dog racing franchise holder in accordance to law. Any surplus funds shall be carried forward the next calendar year and shall not be used for any other purposes. However, the amount set aside shall be applied only to the first one hundred twenty-five million dollars ($125,000,000) of the amount of moneys wagered per calendar year.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-516
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-111-516
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0c485790f34c60a2f6bd8a50a78fb5fceef90dd00df64697a6cac569a2e6c4f2
Source location: content.xml paragraph 62375
Stored source content
23-111-516. Health insurance.
From the amount withheld and retained by the dog racing franchise holder pursuant to § 23-111-509, the franchise holder shall set aside for the use and benefit of his or her employees for the purpose of maintaining health insurance benefits, one-half of one percent (0.5%) of all moneys wagered on live racing and on racing performances simultaneously televised by the franchise holder but conducted at another race track facility. This set-aside shall be in addition to any other credits or payments made by the dog racing franchise holder in accordance to law. Any surplus funds shall be carried forward the next calendar year and shall not be used for any other purposes. However, the amount set aside shall be applied only to the first one hundred twenty-five million dollars ($125,000,000) of the amount of moneys wagered per calendar year.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-111-509. Disposition of wagering money.
(a) Each franchise holder conducting a racing meet under the provisions of this chapter shall keep its books and records in such manner as to clearly show the total amount of moneys wagered on each race held or conducted at each meet and the disposition of the moneys.
(b)(1) In the calendar year 1995 and each calendar year thereafter, the franchise holder shall withhold and retain for its own use and benefit sixteen percent (16%) of all moneys wagered on live, on-premises races up to and including one hundred twenty-five million dollars ($125,000,000) and twelve percent (12%) of all moneys wagered on live, on-premises races in excess of one hundred twenty-five million dollars ($125,000,000).
(2)(A) From the amount withheld and retained by the franchise holder, the franchise holder shall agree that the following credits will be made in the following percentage amounts of all moneys wagered on live, on-premises races up to and including one hundred twenty-five million dollars ($125,000,000) per calendar year, which shall be in addition to any other credits or payments:
(i) Seven-eighths of one percent (.875%) to be used by the franchise holder for supplements for increasing purses awarded at races conducted at the franchise holder's facility;
(ii) Three-eighths of one percent (.375%) to the institutions or funds described in §§ 23-111-503 — 23-111-505 and 23-111-515 on a proportionate basis;
(iii) One-half of one percent (0.5%) to be used by the franchise holder for capital improvements to be made by the franchise holder at the racing facility; and
(iv) One-half of one percent (0.5%) to be used by the franchise holder for promotions to be conducted by the franchise holder to encourage patronage and tourism.
(B) Th
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-111-509
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-111-509. This identifies an authority to review, not proof of applicability.