Horse racing: out-of-state thoroughbred races: Blue Grass Stakes: pension plan or program.

The Horse Racing Law authorizes a thoroughbred racing association or fair to distribute the audiovisual signal and accept wagers on the results of out-of-state thoroughbred races conducted in the United States during the calendar period the association or fair is conducting a race meeting, including days on which there is no live racing being conducted by the association or fair, without the consent of the organization that represents horsemen and horsewomen participating in the race meeting and without regard to the amount of purses. Under that law, the total number of thoroughbred races imported by associations or fairs on a statewide basis under these provisions are required to not exceed 50 per day on days when live thoroughbred or fair racing is being conducted in the state, with the exception of prescribed races. This bill would exempt from the 50 imported race per day limitation, races imported that are part of the race card of the Blue Grass Stakes. Existing law provides for the deduction of a portion of the proceeds of horse races as purses for the benefit of horsemen and horsewomen at the racing meeting, and provides for specific deductions from this portion for the benefit of owners' and trainers' organizations, administrative expenses, and other purposes, depending on the type of horse race involved, including 1% for a pension plan or program. This bill would authorize that the 1% amount for a pension plan or program may include all reasonable, documented administrative expenses attributable to the pension plan or program, as specified.