Cal. Bus. & Prof. Code § 19616.52

Current through the 2024 Legislative Session.
Section 19616.52 - [Repealed Effective 1/1/2025] Payment for credit of Fair and Exposition Fund

Notwithstanding Section 19616.51, in lieu of all amounts payable prior to July 1, 2009, pursuant to Section 19616.51, as that section existed prior to July 1, 2009, from amounts generated by parimutuel wagering on horse races, the sum of five million five hundred thousand dollars ($5,500,000) shall be paid by racing associations and fairs from the amount available for commissions, purses, and breeder awards, as determined by the board, into the State Treasury to the credit of the Fair and Exposition Fund over a period of six years. Commencing with the 2009-10 fiscal year, one-sixth of the sum shall be payable equally for six successive fiscal years. The proportionate share to be paid by each racing association and fair and the method of payment shall be determined by a formula approved by the board in consultation with the industry.

Ca. Bus. and Prof. Code § 19616.52

Repealed by Stats 2024 ch 559 (AB 2143),s 12, eff. 1/1/2025.
Added by Stats 2009 ch 12 (AB X4-12),s 2, eff. 7/28/2009.