In 2011, the Massachusetts legislature set up the Horse Race Development Fund, an account started to help get the horse racing industry “back on its feet” after years of struggling with declining attendance at tracks, etc.
The fund currently has about $15.5 million in its coffers, and it continues to grow thanks to casino revenue. As live racing continues to struggle in the state – Suffolk Downs will conduct just a limited number of live dates; the track recently was sold to a real estate development company – lawmakers are eyeing those funds to help out elsewhere in the state budget.
According to an article in the Lowell Sun, the Massachusetts Senate has added a provision to its 2018 budget proposal that would transfer $15 million from the Race Horse Development Fund and move it into the General Fund by June 30, 2018. Those funds would then be spent on other programs.
“When you have a pot of money just sitting there, it doesn't sit around for long,” Sen. Anne Gobi said about the Race Horse Development Fund. “A lot of people will have other ideas for what that money could be spent on.”
Read more in the Lowell Sun
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