CA AB2143

Repeals numerous Business and Professions Code provisions regulating fairs and transfers related provisions to the Food and Agricultural Code, consolidating fair regulations into a single code.

Creates the California Fairs Trust Account within the Fair and Exposition Fund to receive revenues from sales and use taxes at fairgrounds, continuously appropriating these funds for debt service, health and safety improvements, capital projects, and revenue-generating initiatives at California fairs.

Expands purposes for which horse racing revenue deductions and satellite wagering license fees can be allocated, including public health and safety projects, deferred maintenance, emergency projects, and facility enhancements at fairs.

Authorizes one percent of daily parimutuel pools to be deposited into the Fair and Exposition Fund for capital outlay purposes, with northern zone fairs allowed to retain these funds locally for fair improvements if audited and administrative costs do not exceed 7.5 percent.

Establishes Department of Food and Agriculture oversight responsibilities including fiscal audits, compliance monitoring, and distribution criteria for fair allocations, while maintaining local autonomy and requiring fairs to hold annual operations and submit required budgets to remain eligible for state funding.