The Florida Senate

550.26165  Breeders' awards.--

(1)  The purpose of this section is to encourage the agricultural activity of breeding racehorses in this state. Moneys from breaks and uncashed tickets from pari-mutuel wagering and horseraces are to be used for awards of up to 20 percent of the announced gross purse at any race to breeders of registered Florida-bred horses winning horseraces and for similar awards to the owners of stallions who sired Florida-bred horses winning stakes races, if the stallions are registered as Florida stallions standing in this state. Awards for thoroughbred races are to be paid through the Florida Thoroughbred Breeders' Association, and awards for standardbred races are to be paid through the Florida Standardbred Breeders and Owners Association. The moneys for thoroughbred breeders' awards will come from the 0.75 percent of handle for thoroughbred races conducted, received, broadcast, or simulcast under this chapter as provided in s. 550.2625(3). The moneys for quarter horse and harness breeders' awards will come from the breaks and uncashed tickets on live quarter horse and harness racing performances and 1 percent of handle on intertrack wagering. The breeders' awards shall be paid to the respective breeders' associations by the permitholders conducting the races. The awards are to be given at a uniform rate to all winners of the awards and may not be less than 15 percent of the announced gross purse if funds are available.

(2)  Each breeders' association shall develop a plan each year that will provide for a uniform rate of payment and procedure for payment. The plan may set a cap on winnings and may limit, exclude, or defer payments to certain classes of races, such as the Florida stallion stakes races, in order to assure that there are adequate revenues to meet the proposed uniform rate. Priority shall be placed on imposing such restrictions in lieu of allowing the uniform rate to be less than 15 percent of the total purse payment. The plan must provide for the maximum possible payments within revenues.

(3)  Breeders' associations shall submit their plans to the division at least 60 days before the beginning of the payment year. The payment year may be a calendar year or any 12-month period, but once established, the yearly base may not be changed except for compelling reasons. Once a plan is approved, the division may not allow the plan to be amended during the year, except for the most compelling reasons.

(4)  It is not intended that the funds in the breeders' association special payment account be allowed to grow excessively, although there is no intent to require that payment each year equal receipts each year. The rate each year shall be adjusted to compensate for changing revenues from year to year.

History.--s. 31, ch. 92-348.