Horse RacingRevenue
Section § 19620.3
This law section creates a special account within the State Treasury called the Horse and Jockey Safety and Welfare Account. Money collected from certain horse racing license fees is put into this account. The funds are used continuously to enhance the safety and integrity of horse racing. This includes hiring more state veterinarians and officials, and improving racehorse and jockey safety infrastructures.
Section § 19640
This section requires that any fines or penalties collected during horse racing events be forwarded to a state account dedicated to horse and jockey safety. The collected funds are to be used without limitation of fiscal years for improving horse welfare and safety measures. These measures include hiring more state veterinarians, adding additional race event stewards, and enhancing race track infrastructure to ensure the safety of horses and riders. The board must also share how it uses these funds for welfare and safety on its website.
Section § 19641
This law outlines what happens to unclaimed money from horse racing betting pools. If people don’t claim their winnings, the money is split between supporting horse racing research and welfare funds for people working in the horse racing industry. Some money goes to the board to fund horse racing research, and the rest goes to welfare funds that support the health and welfare of those involved in racing. Payments are made quarterly, with final adjustments at the end of the racing season. The welfare fund must report to the board on how the money is used.
Section § 19641.2
This law details the management and duties related to a health and welfare trust fund for eligible individuals. A nonprofit foundation must administer the fund fairly and responsibly, ensuring it benefits all eligible persons. Employers of backstretch workers are required to submit employment records to assist with the payment of benefits. The board governing the fund must include at least one member who has no financial ties to horse racing, selected from certain union and guild nominees. The law also clarifies that the fund should maintain its charitable status and comply with relevant charitable laws.
Section § 19642
If you buy a cash voucher during a horse racing event and don't use it within a year, the voucher's value will be given to a nonprofit chosen by the board. This nonprofit uses the money to keep a database about horse racing information.
Section § 19642.1
This law states that a small percentage (up to 0.05%) of the money bet at satellite wagering facilities is given to a designated nonprofit organization. The nonprofit's job is to manage a horse racing information database. The exact percentage can be changed by the board. The nonprofit must give its annual budget to the board each November and file financial reports every three months.