BILL NUMBER: SB 766INTRODUCED BILL TEXT INTRODUCED BY Senator Negrete McLeod FEBRUARY 27, 2009 An act relating to horse racing. LEGISLATIVE COUNSEL'S DIGEST SB 766, as introduced, Negrete McLeod. Horse racing. Existing law, the Horse Racing Law, generally regulates horse racing and parimutuel wagering on horse races. Existing law requires various deductions and distributions to be made from parimutuel pools as specified. This bill would express the Legislature's findings and declarations regarding the threat to the horse racing industry in California due to escalating costs. The bill would declare the intent of the Legislature to enact legislation to deduct an additional percentage of the total amount handled in parimutuel pools of thoroughbred horse races, to establish a joint powers agency to collect that additional money and issue bonds, and to use the money primarily for capital improvement financing. 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. (a) The Legislature finds and declares all of the following: (1) The existence of high caliber thoroughbred horse racing in California is important to the state's agricultural economy. (2) 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. These costs are not only causing thoroughbred horses and trainers to leave the state, but are also discouraging owners and trainers from bringing horses into this state to compete. (b) It is therefore the intent of the Legislature to provide some relief from these escalating costs through the redistribution of the parimutuel handle on wagers. (c) In this regard, it is the intent of the Legislature to enact legislation that would do all of the following: (1) Deduct an additional percentage of the total amount handled in all parimutuel pools of thoroughbred races run in California. (2) Establish a joint powers agency to collect and distribute the money accumulated pursuant to paragraph (1), to issue bonds, and to be accountable to the California Horse Racing Board for the use of those funds. (3) Use the money collected pursuant to paragraph (1) primarily for the financing of capital improvements to provide adequate stabling and training facilities for thoroughbred horses, and secondarily to supplement the costs of workers' compensation insurance incurred in connection with thoroughbred horse racing.