The New Jersey state Assembly Appropriations Committee unanimously approved a bill that would provide a $10 million annual purse supplement to Monmouth Park over five years by a vote of 9-0 Monday. The vote came over one month after the state Senate passed Bill 2992 by a 40-0 vote Dec. 17. With this latest clearance, the bill will now travel to the state's Assembly floor, where the next session is scheduled for Thursday. Should the bill pass the Assembly, Governor Phil Murphy would need to approve it before it becomes law.
Bill 2992 would distribute $20 million between the state's Thoroughbred and Standardbred industries annually. The subsidy would presumably provide a much-needed boost to the racing industry in the state, which has struggled to stay afloat in the years since Governor Chris Christie eliminated a $17-million annual purse supplement funded by Atlantic City casinos in 2011.
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