Horse racing: fund for retired race horses.

Existing law, the Horse Racing Law, generally regulates horse racing and vests the administration and enforcement of the Horse Racing Law in the California Horse Racing Board. Existing law provides that all money representing penalties or fines imposed by the stewards of a horse race meeting shall be collected by the licensee of the meeting and paid to the board within 10 days after its close. Existing law requires the board to deposit the money in the State Treasury to the credit of the General Fund. Existing law also requires persons who participate in horse racing, including horse owners, jockeys, drivers, apprentices, grooms, and valets, to be licensed by the board, and to pay license fees pursuant to the rules and regulations adopted by the board. This bill would require the board to annually deposit 50% of all money representing penalties or fines imposed by the stewards of a horse race meeting and 50% of all fees paid to the board for occupational licenses into the Fund for Retired California Race Horses, which would be established by the bill as a continuously appropriated fund, thereby making an appropriation, for purposes of financing a program for the rehabilitation and retraining of retired California race horses. The bill would require the program to be developed by the board and implemented in partnership with a nonprofit organization, selected by the board, that operates rehabilitation and retirement services in the state for retired California race horses.. The bill would require the board to adopt regulations for the management and distribution of funds deposited in the Fund for Retired California Race Horses. The bill would require the regulations to establish a process for the distribution of those moneys to the nonprofit organization. The bill would require the board to adopt regulations prohibiting the total amount of funds allocated to the nonprofit organization from exceeding the total amount of donations received by the nonprofit organization in the year in which the allocation is to be made. The bill would require the nonprofit organization to submit an annual budget and quarterly financial statements to the board.