CA SB721

Expands the definition of "proposition parimutuel pool" to include wagers based on live thoroughbred horse races, in addition to existing quarter horse and harness horse races.

Prohibits the California Horse Racing Board from allocating racing dates to thoroughbred racing associations in the central or southern zones if a fair racing association is conducting racing in either zone on the same dates.

Repeals authorization for county and district agricultural association fairs that began conducting racing on or after January 1, 1979 to retain state license fees for capital expense loan payments related to horse racing facilities.

Permits the Los Angeles County Fair to conduct live racing meetings at alternative sites within or outside Los Angeles County at facilities operated by licensed thoroughbred racing associations, with board approval.

Takes effect immediately as an urgency statute to implement changes for horse races in September 2014.