Today, May 7, 2020, Governor Hogan announced his actions on legislation passed by the Maryland General Assembly during the 2020 Legislative Session that was shorted due to the COVID-19 pandemic. Due to the pandemic, the Governor vetoed a number of bills that mandated increased spending or new taxes.
Among the bills that will become law without signature is SB 987 “Racing and Community Development Act of 2020” which had received almost unanimous approval in both chambers of the Maryland General Assembly and received overwhelming bipartisan support.
Below is the press statement from RWL managing partner Alan M. Rifkin with regard to the momentous passage of SB 987 into law:
“On behalf of Belinda Stronach, The Stronach Group, the Maryland Jockey Club and the Maryland racing industry, we are very appreciative that the “Racing and Community Development Act” is now law. We thank Governor Hogan, Senate President Ferguson, Speaker Jones, Mayor Young, County Executive Pittman and the many other state leaders who championed this historic law.
We are confident that the near shovel-ready capital works projects included in the “Racing and Community Redevelopment Act” will be a critical part of Maryland’s financial recovery, jobs creation and community and economic development.
The Act, which addressed vexing issues that had long challenged the industry, now allows for the bright future and optimism of the Preakness at Pimlico for generations to come, year round racing at Laurel Park making it the epicenter of training and racing in the Mid-Atlantic, and the unprecedented reinvestment in the communities of interest served by the tracks.
This is truly a defining moment in the history of the Maryland thoroughbred racing industry and the State, and we are most appreciative.”
Alan M. Rifkin, Esq.
Counsel for the Maryland Jockey Club and Preakness Stakes