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Originally Posted by Kasept
Again, it may benefit everyone to read some of the details involved in this. I know it's more fun to call track management, state governments and racing regulatory bodies fools and morons, but let's all try to pretend they may be people looking to improve situations... A few more tidbits about this bill and what it was intended to do from people I spoke with in California... This measure apparently was designed to assist the Fairs first and foremost.
They were receiving support from the state via agricultural-related budgets, and that money is disappearing. Allegedly in the $30-40 million dollar range annually. By being able to ask CHRB for approval of various re-applications of revenue from takeout and maneuvering of some takeout rates, the fairs are hopeful they can 'find' that soon to be missing revenue. Otherwise, they may not survive.
As for the DMR, GG, HOL and SA, they get the option of trying to change some currently state-mandated distribution of revenue towards things they need including capital improvements. The state has percentage directives that the bill makes easier to change.
The sky is falling crowd may want to wait until something actually falls before putting on the tinfoil hats. California has some of the lowest takeout rates in the country as a reminder. There may be possible positives from this bill, as hard as it is for anyone to conceive of that.
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Cause and effect. NAFTA created the Cali economy and now the bills are coming due. The tracks used to benefit from agriculture, no more money, have to get it somewhere. Sad nobody thought that through.