Sec. 1. 8 MRSA §272-A, sub-§1, as enacted by PL 1997, c. 474, §2 and affected by §6, is amended to read:

1. Establishment; deposits. Each licensee conducting live racing in the State shall establish a trust account for the benefit of the horsepersons who race at that licensee's facility. Except as provided in subsections 2, 3, 4 and 5 of this section, all funds that by statute must be used to pay purses must be deposited in that account and used exclusively to pay purses, including:

A. All funds distributed to or retained by the licensee to pay or supplement purses pursuant to sections 275-F, 275-H and 275-I, except that any funds may be used to reimburse a licensee for purse overpayment during its race meet. Reimbursement for purse overpayment to a licensee commences in 1998 for any overpayment in the previous calendar year and for any subsequent calendar year in which an overpayment occurs.

Upon request of the exclusive bargaining agent or the commission, a racing segment shall provide records regarding all financial transactions of the trust account, including, but not limited to, deposits, checks written, transfers, withdrawals, loans and loan repayments.

Sec. 3. 8 MRSA §272-A, sub-§2, as amended by PL 1997, c. 735, §2, is further amended to read:

2. Bargaining agent funding. One and one-half percent of the all amounts deposited in the trust account each month must be paid to the exclusive bargaining agent for horsepersons at that racetrack if a representative has been elected pursuant to section 285-A. If a racing segment refuses to pay the funds to the exclusive bargaining agent, the exclusive bargaining agent has the right to sue the racing segment for the collection of the funds in Superior Court and is entitled to reasonable attorney's fees, interest and costs of the collection of the funds.

Sec. 4. 8 MRSA §272-A, sub-§3, śC is enacted to read:

C.__The racing segment shall advise the exclusive bargaining agent of any funds it intends to borrow from the funds described in this subsection and shall obtain written consent from the exclusive bargaining agent before the funds may be borrowed.