CA AB715

Creates a "Special Trust Account for the Rebuilding and Renewal of Fairs" within the Fair and Exposition Fund to receive all funds appropriated or designated for California fairs and expositions.

Expands eligible uses of account funds to include capital improvements at fairgrounds, emergency services projects, and expenses for developing and operating revenue-generating projects (including satellite wagering facilities).

Removes requirement for Joint Committee on Fairs Allocation and Classification concurrence for allocations, replacing it with Director of Finance concurrence for certain categories.

Requires that debt service payments for fairground improvements and racetrack construction be funded before any other allocations from the account.

Directs transfer of revenues exceeding $11,000,000 in any fiscal year to the Fair and Exposition Fund for allocation under Section 19620.2.