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MD SB883
MD SB883Video Lottery Terminal Proceeds - Racetrack Facility Renewal Account - Use of Funds
summary
Introduced
02/11/2019
02/11/2019
In Committee
02/14/2019
02/14/2019
Crossed Over
Passed
Dead
04/08/2019
04/08/2019
Introduced Session
2019 Regular Session
Bill Summary
Allocating Racetrack Facility Renewal Account funds to the Maryland Economic Development Corporation for certain purposes and to the Bowie Race Course Training Center; authorizing a certain racing licensee and the owner of the Bowie Race Course Training Center individually, jointly, or through a parent organization to enter into certain agreements with the Corporation to facilitate the issuance of certain bonds or financing for certain purposes; etc.
AI Summary
This bill allocates funds from the Racetrack Facility Renewal Account to the Maryland Economic Development Corporation (MEDCO) and the Bowie Race Course Training Center for the purpose of constructing improvements and capital facilities at Laurel Park and the Bowie Race Course Training Center. The bill authorizes racing licensees and the owner of the Bowie Race Course Training Center to enter into agreements with MEDCO to facilitate the issuance of bonds or other financing for these purposes. The Comptroller is required to pay up to 80% of the funds that would otherwise go to the Racetrack Facility Renewal Account directly to MEDCO to service the debt from the bonds or financing.
Committee Categories
Budget and Finance
Sponsors (6)
Pamela Beidle (D)*,
Guy Guzzone (D),
Steve Hershey (R),
J.B. Jennings (R),
Douglas Peters (D),
Edward Reilly (R),
Last Action
Hearing 3/06 at 1:00 p.m. (on 02/14/2019)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0883?ys=2019rs |
| State Bill Page | http://mgaleg.maryland.gov/webmga/frmMain.aspx?id=sb0883&stab=01&pid=billpage&tab=subject3&ys=2019rs |
| Fiscal Note/Analysis | http://mgaleg.maryland.gov/2019RS/fnotes/bil_0003/sb0883.pdf |
| BillText | http://mgaleg.maryland.gov/2019RS/bills/sb/sb0883f.pdf |
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