State Codes and Statutes
Statutes > Vermont > Title-31 > Chapter-13 > 642
§ 642. Vermont standard-bred development special fund
(a) The Vermont standard-bred development special fund is created, and shall be managed as required by subchapter 5 of chapter 7 of Title 32. Any year in which monies are not appropriated from the fund for the purposes of section 641 of this title, the money collected under this section shall be returned to the contributors on a pro rata basis.
(b) All funds received by the Vermont breeder's stake board under section 641 of this title shall be deposited in the special fund.
(c) Proceeds of the fund may be used for the following purposes under guidelines established by rule by the board:
(1) race purses for Vermont bred standard-bred horses, available at all horse racing events eligible under terms established by rule by the board;
(2) awards to Vermont breeders of standard-bred horses, provided that all such awards shall come only from private donations; and
(3) other projects designed to encourage standard-bred horse farming in the state.
(d) Annually, the board shall make a report of the distribution of funds under subsection (c) of this section, including amount and recipient, that shall be available to the public. (Added 1993, No. 130 (Adj. Sess.), § 2; amended 2003, No. 42, § 2, eff. May 27, 2003; 2009, No. 33, § 61.)
