California’s font online poker regulatory hopes showed flickers of life this week following the release of new draft legislation and a meeting of key tribal gaming groups.

Late last month, California Assemblyman Adam Gray filed amendments to his AB 431 online poker legislation that would offer state racetracks up to $60m in annual payments in exchange for giving up the opportunity to be an active participant in the state’s proposed regulated online poker market.

AB 431, which until last month had been a shell bill with little in the way of detail, now specifies a 15% tax rate for online poker licensees, which would be limited to established tribal casinos and state card rooms. Licensees would have to ante up $15m deposits, from which future tax payments will be deducted. Licensees would be able to operate up to two online poker sites.

Gray’s plan calls for the tracks to receive the first $60m of the state’s annual online poker revenue, 95% of which would go toward racing purses and pari-mutuel employee retirement plans, while the other 5% would support state agricultural fairs.