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Delegate McCascoe backs HB 15-98 to ease capital grant match for racetracks, with long-term racing commitments
Summary
HB 15-98 would allow racetracks to receive capital construction grants without an upfront matching contribution if they agree to minimum live-racing commitments, create prorated recapture for failures to comply, and preserve minimum race-day standards, supporters told the Appropriations Committee.
Delegate Alethia McCascoe asked the House Appropriations Committee for a favorable report on HB 15-98, a bill that would let Standardbred racetracks receive state capital construction grants without a mandatory matching contribution if they accept conditions intended to protect the public interest.
“The bill authorizes rather than requires a racing licensee to provide and expend a matching fund in order to receive capital construction grant,” McCascoe said, outlining key provisions that would require a two-year live-racing commitment if no match is provided, a 10-year live-racing requirement after construction, prorated recapture if a licensee fails to meet…
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