Horse racing: audits of the horsemen’s organizations: license fee deposits: minisatellite wagering facilities

The law changes compliance requirements for horsemen’s organizations and racing operators while specifying what racing content must be addressed in minisatellite wagering contracts.

What the law does ​

• Allows the California Horse Racing Board to permit exceptions to annual pension-fund audits of horsemen’s organizations and removes the former 90-day deadline for those audits.
• Retains the 90-day audit deadline for horsemen’s organizations’ administrative and welfare funds.
• Eliminates the $10,000 certified-check deposit formerly required with an application for a horse-racing-meeting license.
• Requires minisatellite wagering agreements to identify the live in-state races, as well as other racing-program components, that an association or fair will provide to the site.

Who it affects ​

• Horsemen’s and horsewomen’s organizations, including their subsidiaries.
• Racing associations, fairs, and applicants to conduct horse-racing meetings.
• Minisatellite wagering facilities and their operators.
• The California Horse Racing Board.