P.R. Laws tit. 15, § 198s
Natural or juridical persons who operate racetracks, or firms authorized to receive bets, shall make the following deductions therefrom:
(1) Parimutuel bets. — Of the gross amount wagered after deducting the racing agent’s commissions and the money bet on the winning horses, the following deductions shall be made:
(a) Twenty-five percent (25%) to be divided according to the agreement between the racetrack operator and the horse owners.
(b) Two point six percent (2.6%) for the Commonwealth Treasury’s General Fund.
(2) Daily double bets. — On the gross total wagered:
(a) Eleven percent (11%) for agent commissions.
(b) Twenty-six percent (26%) to be divided according to the agreement between the racetrack operator and the horse owners.
(c) One percent (1%) for the Commonwealth Treasury’s General Fund.
(3) Pool bets. — On the total gross wagered:
(a) Eleven percent (11%) for agent’s commission.
(b) Twenty-six percent (26%) to be divided according to the agreement between the racetrack operator and the horse owners.
(c) One percent (1%) for the Commonwealth Treasury’s General Fund.
(4) Other authorized bets. —
(a) Eleven percent (11%) for agent’s commission.
(b) Twenty percent (20%) to be divided according to the agreement between the racetrack operator and the horse owners.
(c) One percent (1%) for the Commonwealth General Fund.
(d) Five percent (5%) for the Breeders’ Fund.
(5) In the payoffs of the bets the winners shall not be paid for the first four (4) cents or fractions thereof, which shall be retained by the natural or juridical persons operating the racetrack, and deposited each day in a special bank account in a local banking institution where they will earn interest, to be redistributed as bonuses to the bettors. The redistribution shall be made on three (3) occasions during the calendar year, as provided by the Board through an order to such effect.
(6) The right to collect prizes shall expire after three (3) months counting from the day they are won, and such unclaimed money shall be remitted immediately by the corporation that owns the racetrack to the Secretary of the Treasury, who shall distribute it as follows:
(a) Sixty percent (60%) of the amount thus remitted shall be covered into the Commonwealth Treasury’s General Fund, and
(b) forty percent (40%) of the amount thus remitted shall be covered into a special account destined for the Horse Racing Industry and Sport to defray the cost of the antidoping test contemplated in subsection (a)(5) of § 198k of this title; and for the improvement of the horse racing sport in general.
(7) All prizes won in the various wagers of the racing sport shall be exempted from the payment of income taxes.
History —July 2, 1987, No. 83, p. 296, § 20; Aug. 11, 1994, No. 56, § 2; June 25, 1998, No. 100, § 11; July 1, 1999, No. 138, § 10; Aug. 11, 2002, No. 170, § 3; June 5, 2004, No. 139, § 13.