On Friday, California Governor Arnold Schwarzenegger signed into law AB 701 by Assemblymember Jerome Horton (D-Inglewood), providing the state's horse racing industry with requested relief to high workers' compensation premiums in an effort to make the industry competitive with other states.
The new law makes changes to the existing Horse Racing Law which prescribes the amount deducted from the pari-mutuel pools in order to reduce workers' compensation costs within the California horse racing industry.
The bill is estimated to raise an additional $9.5 to $10 million annually by increasin...
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