One-fourth of all money received by the state treasurer under this chapter from licensees operating horse racing tracks shall be placed in a special revenue fund to be known as the South Dakota-bred racing fund. The fund shall be used by the commission to encourage horse racing and the raising and breeding of horses in South Dakota and shall be used for the purpose of providing compensation to South Dakota-bred horses and providing funds to all horsetracks licensed in South Dakota.
S.D. Codified Laws § 42-7-71
South Dakota-bred racing fund--Use of fund
Applied in 1 court decision — leading case Apa v. Butler (2001)
Most recently applied in Apa v. Butler (December 2001)
Source: SDC 1939, § 53.0508 as enacted by SL 1963, ch 296, § 5; SDCL, § 42-7-26; SL 1978, ch 302, § 31; SL 1983, ch 301, § 1; SL 1990, ch 340, § 1; SL 1991, ch 349, § 22; SL 200…
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.