(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.

Source Note: The provisions of this §303.325 adopted to be effective November 19, 2019, 44 TexReg 7041; amended to be effective August 11, 2020, 45 TexReg 5508