Bill > SB819

This bill, concerning horse racing in California, allows for funds that would normally go to a purse account (the prize money for winning horses) to instead be used by the organization running the Breeders' Cup World Championship series to promote and support the event, including paying purses for those races, if the Breeders' Cup is held in California. The thoroughbred racing association hosting the event must agree in writing with the Breeders' Cup organization, in cooperation with the California Tourism Commission and a statewide marketing organization, on how these funds will be spent. Within 90 days after the event, a report, including a parimutuel audit (an examination of betting revenue), must be submitted to the board detailing the use of these funds. Additionally, the board can authorize betting on Breeders' Cup races held at the host venue and on one specified non-thoroughbred race, with the betting revenue from that non-thoroughbred race treated the same as if it were from a thoroughbred race. This bill is declared an urgency statute, meaning it takes effect immediately, to allow for these changes to be implemented before the 2013 Breeders' Cup World Championship series.