This subtitle applies only to the licensee that is the Cecil County Breeders’ Fair, Inc., or its successor.

The Commission shall issue a license to the Cecil County Breeders’ Fair, Inc., or its successor to hold racing on not more than 8 one–day race meetings a year for steeplechase, hurdle, or flat racing at the Fair Hill Natural Resources Management Area. The racing shall be held on dates that the licensee chooses and the Commission approves. In conjunction with this racing, an agricultural fair with livestock entered for exhibition may be held under the auspices of the State Fair Board on at least 1 racing day. An officer of the licensee may not receive a salary or dividends from racing allowed under this subtitle.

The Commission may issue a license to the licensee to hold racing on 2 race meetings a year for quarter horse racing at the Fair Hill Natural Resources Management Area.

The licensee shall deduct from the handle: all the breakage; and an amount not to exceed 25%. Excluding the breakage, of the amount the licensee deducts from the handle, 36% of that amount shall be paid to the Commission, which shall send it to the Comptroller to be credited to the Fair Hill Improvement Fund established in § 5–908 of the Natural Resources Article. Money that remains after deductions are made under subsection (a) of this section shall be returned as winnings to successful bettors.

In this section, “Arabian breed horse” means a horse that: is a purebred Arabian breed horse; and has a valid certificate of registry with the Arabian Jockey Club of America. A licensee at the Fair Hill Natural Resources Management Area may conduct live racing of Arabian breed horses if: the purse for an Arabian breed race is funded by the licensee or the sponsor of the race; the takeout provisions of § 11–704 of this subtitle apply to the race; the licensee pays all taxes and fees associated with the Arabian breed race that would otherwise be due on a steeplechase, hurdle, or flat race; and the Arabian breed race is approved by the Commission.