California Assembly Bill AB1667 Introduced / Bill

 BILL NUMBER: AB 1667INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Garrick FEBRUARY 14, 2012 An act to amend Section 19610 of the Business and Professions Code, relating to horse racing. LEGISLATIVE COUNSEL'S DIGEST AB 1667, as introduced, Garrick. Horse racing. Existing law requires every association that conducts a horse racing meeting to deduct certain percentages of the total amount handled in conventional parimutuel pools and in exotic parimutuel pools, and requires the amounts deducted to be distributed as prescribed in the Horse Racing Law. This bill would make technical, nonsubstantive changes to that provision. 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 19610 of the Business and Professions Code is amended to read: 19610. Every association  which   that  conducts a racing meeting shall deduct 15 percent of the total amount handled in conventional parimutuel pools and 16.75 percent of the total amount handled in exotic parimutuel pools, except that  any   an  association conducting a harness racing meeting shall deduct 17.75 percent of the total amount handled in exotic parimutuel pools. The amounts as deducted shall be distributed as prescribed in this chapter.