2010 Session

Budget Bill - HB29 (Chapter 872)

Virginia Racing Commission

Item 129

Item 129

First Year - FY2009Second Year - FY2010
Regulation of Horse Racing and Pari-Mutuel Betting (55800)$2,532,725$1,910,644
License and Regulate Horse Racing and Pari-Mutuel Wagering (55801)FY2009 $2,247,817FY2010 $1,910,644
Promote the Horse Industry (55802)FY2009 $284,908FY2010 $0
Fund Sources:  
SpecialFY2009 $2,532,725FY2010 $1,910,644

Authority: Title 59.1, Chapter 29, Code of Virginia.

A. Out of this appropriation, the members of the Virginia Racing Commission shall receive compensation and reimbursement for their reasonable expenses in the performance of their duties, as provided in § 2.2-2104, Code of Virginia.

B. Notwithstanding the provisions of § 59.1-392, Code of Virginia, up to $255,000 the first year and $255,000 the second year shall be transferred to Virginia Polytechnic Institute and State University to support the Virginia-Maryland Regional College of Veterinary Medicine.

C. Any revenues received during the biennium and which are due to the Commission pursuant to § 59.1-364 et seq., Code of Virginia, shall be used first to fund the operating expenses of the Commission as appropriated in this Item. Any change in operating expenses as herein appropriated requires the approval of the Department of Planning and Budget. Any revenues in excess of amounts required for Commission operations as appropriated under the provisions of this act and amounts payable to specific entities pursuant to § 59.1-392 and appropriated in paragraphs B and D of this Item, shall revert to the general fund.

D. Out of these amounts, the obligations set out in § 59.1-392 D. 5. and D. 6., Code of Virginia, shall be fully funded.

E. The Virginia Racing Commission is authorized to expend up to $284,908 the first year to develop programs or award grants for the promotion and marketing, sustenance and growth of the Virginia horse industry, including horse breeding.  Any unexpended balance remaining on June 30, 2009, of the $284,908 appropriated for fiscal year 2009 shall be carried forward on the books of the Comptroller and shall be available for expenditure during the second year of the current biennium.  In no event, however, shall any funds be expended or carried forward for that purpose that would cause the reversion to the general fund required by Paragraph C above to fall below $815,870 the first year and $734,356 $589,127 the second year.