BILL NUMBER: AB 2414INTRODUCED BILL TEXT INTRODUCED BY Assembly Member John A. Perez FEBRUARY 19, 2010 An act to add Section 19601.02 to the Business and Professions Code, relating to horse racing. LEGISLATIVE COUNSEL'S DIGEST AB 2414, as introduced, John A. Perez. Horse racing: thoroughbred racing: Breeders' Cup: wagering deduction. Existing law authorizes a thoroughbred association or fair, subject to approval by the California Horse Racing Board, to deduct from the parimutuel pool for any type of wager, a specified percentage for the meeting of the thoroughbred association or fair that accepts the wager. This bill would authorize a thoroughbred association hosting Breeders' Cup races, upon filing a written notice with the board, to deduct from the parimutuel pool for any type of wager made during the days on which Breeders' Cup races are held, a specified percentage. The bill would require the written notice to include the written agreement of the thoroughbred association and the horsemen's organization. The bill would require the amount deducted to be distributed as prescribed in the Horse Racing Law. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 19601.02 is added to the Business and Professions Code, to read: 19601.02. Notwithstanding any other law, a thoroughbred association hosting the series of thoroughbred championship races known as the "Breeders' Cup" races may, upon filing a written notice with the board, deduct from the total amount handled in the parimutuel pool for any type of wager made during the days on which Breeders' Cup races are held, an amount of not less than 10 percent nor more than 25 percent. The written notice shall include the written agreement of the thoroughbred association and the horsemen's organization for the meeting of the thoroughbred association accepting the wager. The amount deducted shall be distributed as prescribed in this chapter.