AB 432 Summary

• Racing associations and racing fairs receiving distributions from exchange wagering agreements must distribute 0.16 percent of total exchange wagering revenues to the official registering agency.

• The official registering agency must distribute received funds according to the manner prescribed in subdivisions (b) to (d) of Section 19617.2.

• No state reimbursement is required under Article XIII B of the California Constitution because any costs incurred by local agencies or school districts result from changes to criminal penalties.