| (a) A breed registry receiving funds from the horse
industry escrow account shall submit to the Commission a report every
quarter. The report must include:
(1) the amount of funds expended toward each event
for which funds have been allocated;
(2) for each event completed during the previous calendar
quarter, the total amount of funds expended toward the event, a breakdown
of the funds expended for that event, and copies of documentation
of all amounts expended; and
(3) the following certification: "By my signature below,
I certify that (1) all of the information in this report is correct,
(2) all funds expended from the horse industry escrow account were
used in accordance with Section 2028.204 of the Texas Racing Act and
the Rules of the Texas Racing Commission, and (3) the breed registry
has all documentation required by 16 TAC §303.324."
(b) Quarterly reports shall be submitted to the Commission
no later than November 30, February 28, May 31, and August 31 of each
year for the previous calendar quarter.
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