§86.__Stipend Fund

1. Annual distribution.__The commissioner shall annually distribute all money contributed to the Stipend Fund under Title 8, sections 286 and 287 to qualified licensees in accordance with this section.

2.__Distribution of funds to fair licensees that conduct pari- mutuel racing.__Forty-four percent of the amounts contributed to the Stipend Fund under Title 8, sections 286 and 287 must be divided into equal amounts for reimbursement to each licensee that:

A.__Conducts pari-mutuel racing in conjunction with its annual fair;

B.__Has improved its racing facilities: and

C.__Has met the standards for facility improvements set by the commissioner for that licensee.

A licensee that has not complied with the improvement standards set by the commissioner for a given year is not eligible for a reimbursement under this subsection for that year.

3.__Distribution of funds to fair licensees who do not conduct pari-mutuel racing.__Eight percent of the amount contributed to the Stipend Fund under Title 8, sections 286 and 287 for a calendar year must be divided into amounts in proportion to the sums expended for premiums by the licensee in that year for reimbursement to each licensee that:

A.__Does not conduct pari-mutuel racing; and

B.__Has met the standards for facility improvements set by the commissioner for that licensee.

A licensee that has not complied with the improvement standards set by the commissioner for a given year is not eligible for a reimbursement under this subsection for that year.