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CA AB1173
Bill
Status
10/5/2021
Primary Sponsor
Jim Cooper
Click for details
AI Summary
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Changes hub agreement arbitration compensation to the average of the compensation in the original hub agreement and the compensation proposed in the arbitration notice, rather than using only the original agreement amount
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Requires arbitrators to select the set of terms that most accurately reflects the then-existing market rate of compensation for ADW provider services based on relevant facts and circumstances relating to California resident wagering
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Removes the requirement that arbitrator decisions be final and binding, instead allowing either party to bring a state court action to review the arbitrator's decision
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Maintains the 60-day timeline for conducting arbitration and 15-day timeline for issuing the arbitrator's decision, with costs split equally among parties
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Preserves existing provisions allowing ADW providers to continue accepting wagers from California residents during the arbitration process
Legislative Description
Horse racing: advance deposit wagering: hub agreement arbitration.
Last Action
Chaptered by Secretary of State - Chapter 531, Statutes of 2021.
10/5/2021