SB 92
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AN ACT
RELATING TO HORSE RACING; CREATING THE HORSE RACING INTEGRITY
AND SAFETY AUTHORITY AND JOCKEY AND EXERCISE RIDER INSURANCE
FUND; PROVIDING A PROCESS FOR PAYING THE COSTS OF JOCKEY AND
EXERCISE RIDER INSURANCE AND COMPLYING WITH STATE AND FEDERAL
LAW; MAKING AN APPROPRIATION.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. A new section of the Horse Racing Act is
enacted to read:
"HORSE RACING INTEGRITY AND SAFETY AUTHORITY AND JOCKEY
AND EXERCISE RIDER INSURANCE FUND CREATED--PURPOSE.--The
"horse racing integrity and safety authority and jockey and
exercise rider insurance fund" is created as a nonreverting
fund in the state treasury. The fund consists of money
collected by the commission to offset the costs of jockey and
exercise rider insurance and to comply with federal and state
laws affecting horse racing as provided in Section 60-2E-47
NMSA 1978, distributions, appropriations, income from
investment of the fund, gifts, grants, donations and bequests.
The fund shall be administered by the commission, and money in
the fund is appropriated to the commission to pay the costs of
complying with Section 60-2E-47 NMSA 1978. Disbursements from
the fund shall be made by warrant of the secretary of finance
and administration pursuant to vouchers signed by the SB 92
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executive director of the commission or the executive
director's designee.”