478 LAWS OF MARYLAND [CH. 137

and during each calendar year thereafter, an annual tax at the rate
of 1% on all money wagered not exceeding $1,500,000 on all such
races conducted by it during each such year and 6% on all money
wagered in excess of $1,500,000 on all such races conducted by it
during each such year and shall pay one-half (1/2) of the breakage
computed to ten cents (10c) to the Comptroller for the use of the
Maryland State Fair Board, which shall be used by said Board as it
deems necessary for premiums at the tracks where such breakage was
collected and the remainder used for the general purposes of said
Board, the payment of said tax shall be accompanied by a statement
of the licensee, or his duly authorized agent, under oath, showing
the amount of money wagered each day during the preceding meet-
ings. The Commission shall promptly pay all taxes collected under
the provisions of this section to the Comptroller, as provided in
Section 19 of this article. Each licensee may deduct and retain for
its own account [11%] 12% of all money wagered on all races
conducted by it during each year not exceeding $1,500,000 and [6%]
7% on all money wagered in excess of $1,500,000 on all races con-
ducted by it during each year, and one-half (1/2) of the breakage
computed to the ten cents (10c). For the purpose of enforcing the
provisions of this section the Commission shall have and exercise all
of the power conferred upon it by Sections 11 and 13 of this Article.

(b) Each licensee, licensed under Section 15 of this Article, shall
allocate a sum equal to 3.66% of the total mutuel pool on all races
conducted by it during the year for the current year's purse money.
In addition each licensee shall allocate a portion of the total mutuel
pool on all races conducted by it during the year to the Maryland-
Bred Race Fund as provided by Section 18A herein.

18A. (a) The Maryland-Bred Race Fund is hereby created. The
Fund shall be administered by the Commission with the assistance
and advice of the Committee hereinafter created and all payments
from the Fund shall be made by the order of the Commission.

(b) On and after June 1, 1962, each thoroughbred track licensee
under this article shall allocate a sum equal to .34% of the mutuel
pool on all races conducted by it during the year to the Maryland-
Bred Race Fund. Any monies allocated under this article and not
disbursed during any current meeting in Maryland-Bred Fund
races, within five (5) days after the close of each meeting shall be
paid to the Maryland Racing Commission. The Commission shall
hold all moneys so allocated and received in a fund to be known as
the "Maryland-Bred Racing Fund", which Fund shall be deposited
by the Commission in one or more banks or trust companies in the
State. The members of the Commission shall have no personal
liability for loss to the Fund by reason of the failure or insolvency
or other fault of any depository if they shall use ordinary care in the
selection of the depository. The Commission shall require any deposi-
tory to secure by collateral any deposit therein comprising a part of
all of the Fund.

(c) The Maryland-Bred Race Fund Advisory Committee, under
jurisdiction of the Maryland Racing Commission, is hereby estab-
lished. The Committee shall consist of five members to be appointed
by the Commission by June 1 of each year. The Committee shall
consist of two members of the Maryland Horse Breeder's Association,