Lease of Racetrack Premises

Sec. 2026.006. LEASE OF RACETRACK PREMISES. (a) The commission by rule may authorize a racetrack association, as lessee, to contract for the lease of a racetrack and the surrounding structures. (b) The commission may not approve a lease if: (1) the lease appears to be a subterfuge to evade compliance with Section 2025.101 or 2025.201; (2) the racetrack and surrounding structures do not conform to the rules adopted under this subtitle; or (3) the lessee, prospective lessee, or lessor is disqualified from holding a racetrack license. (c) Each lessor and lessee under this section must comply with the disclosure requirements of Section 2025.052(a)(1). The commission may not approve a lease if the lessor and lessee do not provide the required information. Added by Acts 2017, 85th Leg., R.S., Ch. 963 (S.B. 1969), Sec. 1.01, eff. April 1, 2019.