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Can you summarize LARS 4.161?
HORSE RACING > License fees for conducting race meetings
Short Summary
This legal document governs the license fees for conducting race meetings in Louisiana. It applies to any person, association, or corporation conducting a race meeting in a municipality or parish. The license fees are determined based on the total daily pool and are divided into different tiers. For pools up to $201,000.00, a three percent fee is charged on the portion exceeding $60,000.00. For pools from $201,000.00 to $401,000.00, a fixed fee of $4,230.00 is charged, along with four percent of the amount exceeding $201,000.00 up to $401,000.00. For pools of $401,000.00 and over, a fixed fee of $12,230.00 is charged, along with five percent of any amount exceeding $401,000.00. The licensee is required to deposit fees on a daily basis in a designated state depository during each race meeting. The document also outlines the process for returning the deposit of $5,000.00 made with the license application upon fulfilling the payment obligations. The association conducting the race meeting may deduct fees paid to parish governing authorities. Additionally, the association retains thirty percent of the fees to be disbursed as purse supplements. No penalties are mentioned in this document.
Whom does it apply to?
Any person, association, or corporation conducting a race meeting in a municipality or parish
What does it govern?
License fees for conducting race meetings
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Louisiana