California Business and Professions Code

§ 19605.78

BPC § 19605.78 Effective Mar 28, 2014Div. 8 · Ch. 4 · Art. 9.2

Statute text

(a)Notwithstanding Section 19610 and in addition to the deduction specified in subdivision (b) of Section 19605.75, a fair may deduct an additional 0.5 percent of the total amount handled in exotic parimutuel pools of races for any breed, other than races solely for thoroughbreds. This additional deduction shall only be permitted for a breed’s races with the approval of the organization representing the horsemen and horsewomen of that breed at the fair.

(b)Any funds collected pursuant to subdivision (a) from exotic parimutuel pools on races within the inclosure of a racetrack, 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 (e) to be used in accordance with subdivision (d).

(c)Any fair that authorizes a betting system located outside of this state to accept exotic wagers on its races and to combine those wagers in the association’s exotic parimutuel pools, including, but not limited to, a multijurisdictional wagering hub as to exotic wagers made by residents other than those of this state, may deduct the amount specified in subdivision (a) in addition to any other applicable deductions specified in law. Any amount deducted pursuant to this subdivision shall be distributed to the organization described in subdivision (e) to be used in accordance with the provisions of subdivision (d). This additional deduction shall not be included in the amount on which license fees are determined pursuant to Section 19602.

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Legislative history

Added by Stats. 2014, Ch. 6, Sec. 4. (SB 777) Effective March 28, 2014.