; or (2) the Federal Government to guarantee the debts of the Authority. (b) Prohibition on increased takeout No State racing commission may increase the takeout of any racetrack to collect fees to fund the Authority. (c) Initial funding (1) In general Initial funding to establish the Authority and underwrite its operations prior to the effective date shall be provided by loans obtained by and donations made to the Authority. (2) Borrowing and accepting donations The Authority may borrow money and accept private donations and contributions toward the funding of its operations. (3) Annual calculation of amounts required (A) In general Not later than the date that is 90 days before the date set forth in section 10(a) and not later than November 1 of each year thereafter, the Authority shall determine and provide to each State racing commission the estimated amount required per racing starter to fund the horseracing anti-doping and medication control program for the coming year and to liquidate any loans or funding shortfall in the current year and any prior years. (B) Basis of calculation The amount calculated under subparagraph (A) shall be based upon the annual budget of the Authority for the succeeding year, as approved by the board of the Authority. (C) Requirements regarding budgets of authority The Authority’s initial budget shall require the approval of 2/3 of its board and any subsequent budget that exceeds the preceding year’s budget by more than 5 percent shall also require the approval of 2/3 of the board of the Authority. (d) Assessment and collection of fees by states (1) Notice of election Any State racing commission that elects to remit fees pursuant to this subsection shall notify the Authority of such election at least 60 days prior to the adoption of the horseracing anti-doping and medication control program. (2) Requirement to remit fees Once a State racing commission makes such notification, the election shall remain in effect and the State racing commission shall be required to remit fees