APPLICATION FEE.

(a) The commission shall require each applicant for an original racetrack license to pay the required application fee. The fee must accompany the application and be paid in the form of a cashier's check or certified check.

(b) The commission shall set application fees in amounts reasonable and necessary to cover the costs of administering this subtitle. The commission by rule shall establish a schedule of application fees for the various types and classifications of racetracks using minimum application fees. The minimum application fee:

(1) for a horse racetrack is:

(A) $15,000 for a class 1 racetrack;

(B) $7,500 for a class 2 racetrack;

(C) $2,500 for a class 3 racetrack; and

(D) $1,500 for a class 4 racetrack; and

(2) for a greyhound racetrack is $20,000.

(c) Notwithstanding this section, if a licensed racetrack petitions for a higher racetrack classification, the commission shall impose fees equal to the difference between the fees previously paid and the fees required for the higher classification.