Horse racing: charity days., the official text

An act to amend Section 19550 of the Business and Professions Code, relating to horse racing.

LEGISLATIVE COUNSEL'S DIGEST

Existing law requires each licensed racing association that conducts 14 weeks or less of racing to designate 3 racing days, and each licensed racing association that conducts more than 14 weeks of racing to designate 5 racing days during any one meeting, to be conducted as charity days for the purpose of distributing the net proceeds to beneficiaries.
This bill would instead require each licensed racing association that conducts 12 weeks or less of racing to designate 3 racing days, and each licensed racing association that conducts more than 12 weeks of racing to designate 5 racing days during any one meeting, to be conducted as charity days for the purpose of distributing the net proceeds to beneficiaries.

The people of the State of California do enact as follows:

SECTION 1.
Section 19550 of the Business and Professions Code is amended to read:
19550.
(a) The board shall require each licensed racing association that conducts 12 weeks or less of racing to designate 3 racing days, and each licensed racing association that conducts more than 12 weeks of racing to designate five racing days during any one meeting, to be conducted as charity days by the licensee for the purpose of distribution of the net proceeds therefrom to beneficiaries through the distributing agent. For purposes of this section, a split meeting shall be considered a single meeting and the appropriate number of charity days shall be based on the total weeks of racing allocated for both periods of the meeting.
(b) Notwithstanding subdivision (a) or any other law, a racing association shall not be required to pay to a distributing agent for the purpose of distribution to beneficiaries more than an amount equal to two-tenths of 1 percent of the association’s total on-track handle on live races conducted by the association at the meeting.
(c) This section does not apply to a fair, or to a licensed racing association conducting three weeks of racing or less.