Pennsylvania § 1405 - Pennsylvania Race Horse Development Trust Fund.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 1405 — Pennsylvania Race Horse Development Trust Fund., with citation guidance and answers to common questions.
§ 1405. Pennsylvania Race Horse Development Trust Fund.
(a) Fund established.--The Pennsylvania Race Horse Development Fund is converted into a trust fund and shall be known as the Pennsylvania Race Horse Development Trust Fund within the State Treasury.
(b) Pennsylvania race horse improvement assessment.--Each active and operating licensed gaming entity, other than a Category 4 slot machine licensee, shall pay a daily assessment to the Pennsylvania Race Horse Development Trust Fund as determined by the department. Subject to the daily assessment cap established under subsection (c), the licensed gaming entity's assessment shall be a percentage of each licensed gaming entity's gross terminal revenue, equal to an amount calculated as "A" multiplied by "B", with "A" being equal to each licensed gaming entity's gross terminal revenue for that day divided by the total gross terminal revenue for that day from all licensed gaming entities, and "B" being equal to 18% of that day's gross terminal revenue for all active and operating Category 1 licensees conducting live racing.
(c) Daily assessment cap.--If the resulting daily assessment for a licensed gaming entity exceeds 12% of that licensed gaming entity's gross terminal revenue for the day, the licensed gaming entity shall pay a daily assessment of 12% of its gross terminal revenue for that day.
(d) Distributions.--In accordance with section 1406 (relating to distributions from Pennsylvania Race Horse Development Trust Fund), the department shall make distributions from the Pennsylvania Race Horse Development Trust Fund to each of the active and operating Category 1 licensees conducting live racing.
(July 18, 2013, P.L.574, No.71, eff. imd.; Oct. 30, 2017, P.L.419, No.42, eff. imd.)
Cross References. Section 1405 is referred to in sections 1103, 1313, 1401, 1405.1, 1406 of this title.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 1405
What does Pennsylvania Consolidated Statutes § 1405 cover?
Section 1405 ("Pennsylvania Race Horse Development Trust Fund.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 1405?
A common citation format is "Pennsylvania Consolidated Statutes § 1405" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 1405 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.