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§ 10-1003. Purpose; powers

West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2023

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 10. Maryland Thoroughbred Racetrack Operating Authority (Refs & Annos)
Effective: June 1, 2023
MD Code, Economic Development, § 10-1003
§ 10-1003. Purpose; powers
Currentness
Purpose
(a) The purpose of the Authority is to maintain the State as a best-in-class thoroughbred horse racing venue.
Powers
(b) The Authority may:
(1) study and make any recommendations that the Authority finds are in the best interests of thoroughbred racing in the State;
(2) in coordination with other State entities, develop new and existing horse racing and training facilities in the State;
(3) subject to subsection (c) of this section and in accordance with an executive order or a determination of the State Racing Commission that a thoroughbred racing licensee under Title 11, Subtitle 5 of the Business Regulation Article, for any reason other than weather, an act of God, or other circumstances beyond the control of the licensee, is unable to support the minimum number of live racing days:
(i) manage and oversee, in compliance with Title 11, Subtitle 5 of the Business Regulation Article:
1. day-to-day thoroughbred horse racing operations;
2. live racing days; and
3. assets in the State; and
(ii) in coordination with the Maryland Economic Development Corporation, acquire property or contractual interests consistent with § 11-521 of the Business Regulation Article and the procedures set forth in §§ 8-334 through 8-339 of the Transportation Article;
(4) enter into any agreements, leases, partnerships, or contracts necessary to:
(i) support and sustain Maryland thoroughbred racing and pari-mutuel wagering activity; and
(ii) ensure compliance with State Racing Commission rules and regulations;
(5) authorize or create a separate body, entity, or holding company to carry out any provisions of this subtitle;
(6) adopt regulations to carry out the provisions of this subtitle; and
(7) make any other recommendations the Authority deems necessary.
Prerequisite to use of powers
(c) Before the Authority may exercise the powers authorized under subsection (b)(3) of this section, the Legislative Policy Committee shall review and comment on the executive order or determination of the State Racing Commission described under subsection (b)(3) of this section.

Credits

Added by Acts 2023, c. 111, § 2, eff. June 1, 2023.
MD Code, Economic Development, § 10-1003, MD ECON DEV § 10-1003
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document