(1) There is hereby established an Equine Industry Program at the University of Louisville, under the general control and direction of the university. The purpose of the Equine Industry Program is to provide training and educational opportunities in the horse racing industry relating to, but not limited to, finance, management, marketing, regulation and administration aspects of the horse racing industry, in accordance with the industry needs as determined by the university. (2) There is hereby created a trust and revolving fund for equine industry programs at the University of Louisville, the University of Kentucky, and the Bluegrass Community and Technical College, consisting of money allocated to the fund together with money as may be contributed to the fund from all other sources. Money to the credit of the fund at the end of each fiscal year shall not lapse but shall be carried forward to the succeeding fiscal year. (3) The University of Louisville shall utilize personnel and facilities of the University of Kentucky and the Bluegrass Community and Technical College when appropriate for assistance in any cooperative undertakings the University of Louisville may wish to enter into with the University of Kentucky or the Bluegrass Community and Technical College relating to the Equine Industry Program.
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