A proposal that would boost Pennsylvania's horse racing industry is moving closer to becoming law, as it makes its way through the Pennsylvania General Assembly.
Penn Live reports that the Pennsylvania Senate voted 48 to 2 in support of the bill, which would make “substantial regulatory changes” to the State Racing Fund. Lawmakers say the Fund has been depleted, and if something isn't done very soon, the racetracks in the state would be forced to shut down.
Pennsylvania State Senator Elder Vogel, a supporter of the bill, said that passage of the legislation would result in a surplus of more than $27 million for the State Racing Fund by 2019-2020.
“It had been a long and involved process as we worked to fine tune this proposal,” Vogel said in a statement.
“The bottom line is that we face the real possibility of losing a multimillion dollar industry. It was imperative that we take care of the Racing Fund's current financial instability, but provide for the long-term protection of the racing industry in Pennsylvania.”
Read more at PennLive.com
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