There is hereby created within the State Treasury the Virginia Breeders Fund, which Fund, together with the interest thereon, shall be administered in whole or in part by the Commission or by an entity designated by the Commission. The cost of administering and promoting the Fund shall be deducted from the Fund, and the balance shall be disbursed by the Commission or designated entity to the breeders of Virginia-bred horses that win races at race meetings designated by the Commission, to the owners of Virginia sires of Virginia-bred horses that win races at race meetings designated by the Commission, to the owners of Virginia-bred horses that win or earn purse money in nonrestricted races at racetracks in Virginia licensed by the Commission, to the owners of Virginia-bred horses that win races at race meetings designated by the Commission and for purses for races restricted to Virginia-bred or Virginia-sired horses or both at race meetings designated by the Commission. To assist it in establishing this awards and incentive program to foster the industry of breeding racehorses in Virginia, the Commission shall appoint an advisory committee composed of two members from each of the registered breed associations representing each breed of horse participating in the Fund program, one member representing the owners and operators of racetracks and one member representing all of the meets sanctioned by the National Steeplechase Association.
1988, c. 855; 1993, c. 146; 1997, c. 798; 2002, c. 852.
Structure Code of Virginia
Title 59.1 - Trade and Commerce
Chapter 29 - Horse Racing and Pari-Mutuel Wagering
§ 59.1-364. Control of racing with pari-mutuel wagering
§ 59.1-366. The Virginia Racing Commission created; members
§ 59.1-367. Legal representation
§ 59.1-368. Financial interests of Commission members, employees and family members prohibited
§ 59.1-369. Powers and duties of the Commission
§ 59.1-370. Commission; Executive Secretary; staff; stewards
§ 59.1-370.1. State Racing Operations Fund
§ 59.1-371. Fingerprints and background investigations; investigations from other states
§ 59.1-372. Virginia Breeders Fund
§ 59.1-373. Hearing and appeal
§ 59.1-375. Owner's and operator's license required
§ 59.1-376. Limited licenses; transfer of meet; taxation; authority to issue; limitations
§ 59.1-377. Application for owner's license
§ 59.1-378. Issuance of owner's license
§ 59.1-378.1. Licensing of owners or operators of certain pari-mutuel facilities
§ 59.1-379. Refusal of owner's license
§ 59.1-380. Duration, form of owner's license; bond
§ 59.1-381. Application for operator's license
§ 59.1-382. Issuance of operator's license
§ 59.1-383. Duration, form of operator's license; bond
§ 59.1-384. Denial of license final
§ 59.1-385. Suspension or revocation of license
§ 59.1-386. Acquisition of interest in licensee
§ 59.1-387. Permit required; exception
§ 59.1-388. Application for permit
§ 59.1-389. Consideration of application
§ 59.1-390. Suspension or revocation of permit; fine
§ 59.1-391. Local referendum required
§ 59.1-392. Percentage retained; tax
§ 59.1-392.1. Advance deposit account wagering revenues; distribution
§ 59.1-394.1. Live Horseracing Compact; form of compact
§ 59.1-394.2. Compact Committee members
§ 59.1-394.3. Cooperation of departments, agencies and officers of the Commonwealth
§ 59.1-394.4. Racing Commission powers preserved
§ 59.1-395. Unlawful conduct of wagering
§ 59.1-396. Fraudulent use of credential
§ 59.1-397. Unlawful transmission of information
§ 59.1-399. Bribing of a jockey, driver or other participant
§ 59.1-400. Prohibited acts, administration of drugs, etc.; penalty
§ 59.1-402. Racing under false name; penalty
§ 59.1-403. Prohibition on persons under 21 years of age; penalty