The Florida Senate

550.655  Backside medical and health benefits; restriction.--

(1)  Each thoroughbred permitholder conducting racing in this state shall withhold from the total purse pool generated from wagering conducted at the facility used by the permitholder to conduct thoroughbred racing an amount equal to 0.18 percent of the total handle and shall pay that amount to a corporation organized under chapter 617. The board members of such corporation shall be open to one representative of each thoroughbred permitholder, plus two persons designated by a thoroughbred horsemen's association. The division must confirm and certify such corporation annually to ensure that the board membership complies with this subsection.

(2)  Before any expenditure by such corporation may be made, such corporation must have obtained a determination from the United States Internal Revenue Service that such corporation has qualified under s. 501(c) of the Internal Revenue Code of 1986. The funds paid to such corporation shall be used specifically and solely in accordance with the provisions of this section.

(3)  All funds paid to the corporation shall be based upon a plan, approved by the division, to provide medical, dental, surgical, life, funeral, and disability insurance benefits in a uniform manner and to the fullest extent actuarially possible for occupational licensees who work on thoroughbred racetracks in this state. Persons eligible under such plan shall not include jockeys, employees of the permitholder, or employees of any concessionaire employed, appointed, or contracted with by the permitholder.

(4)  Annually, the corporation shall file a certified audit detailing all expenses, by insureds, in a format designated by the division.

(5)  Notwithstanding subsection (2), direct accounting expenses, insurance commissions, and legal costs necessary to implement and carry out the provisions of this section constitute permissible costs, subject to the approval of the division.

(6)  All expenditures under subsection (5) that are not determined to be reasonable by the division must be reimbursed by the recipient to the corporation.

History.--s. 54, ch. 92-348.