California Business and Professions Code

§ 19605.75

BPC § 19605.75 Effective Mar 28, 2014Div. 8 · Ch. 4 · Art. 9.2

Statute text

(a)The Legislature finds and declares that the existence of high caliber thoroughbred racing in California is important to this state’s agricultural economy. The California horse racing industry is being threatened by the escalating costs of doing business in California, including, but not limited to, workers’ compensation insurance costs, in that these costs are not only causing thoroughbred horses and trainers to leave this state, but are also discouraging owners and trainers from bringing horses into this state to compete. It is the intent of the Legislature to provide some relief from these escalating costs through the redistribution of the parimutuel handle on exotic wagers.

(b)Notwithstanding Section 19610, every thoroughbred association and fair that conducts a racing meet shall deduct an additional 0.5 percent of the total amount handled in exotic parimutuel pools of thoroughbred races.

(c)The funds collected pursuant to subdivision (b) from exotic parimutuel pools on thoroughbred races within the inclosure of a thoroughbred association or fair conducting a race meeting, at satellite wagering facilities within this state, and through advance deposit wagering by residents of this state, shall be distributed to the organization described in subdivision (f) to be used in accordance with subdivision (e).

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Legislative history

Amended by Stats. 2014, Ch. 6, Sec. 1. (SB 777) Effective March 28, 2014.