CA AB1421

Requires harness racing organizations to account annually to the California Horse Racing Board by August 1 regarding distribution of funds collected from parimutuel pools during the preceding fiscal year

Mandates that organizations obtain an independent audit of fund distributions and submit a copy of the completed audit to the board within 45 days of receipt

Applies to funds deducted from conventional parimutuel pools of harness races that are distributed to reduce workers' compensation insurance costs for trainers

Sunsets on January 1, 2014, unless extended by later legislation enacted before that date