31745

(a) Every person who operates a racetrack or racing agency shall have the obligation to collect, withhold, and remit the taxes fixed by §§ 31692 and 31693 of this title to the Secretary.(b) The persons described in subsection (a) shall post a bond in the amount fixed by the Secretary through regulations, in order to secure the timely payment of all taxes that must be collected pursuant to this part, as well as to answer for any surcharge, interest, or administrative fine imposed in the event of a violation of the provisions of this part and its regulations. History —Jan. 31, 2011, No. 1, § 3060.05, retroactive to Jan. 1, 2011.