Horse Racing - Distribution of Racetrack Facility Renewal Account Funds - Alterations

HB 856 alters how funds from Maryland's Racetrack Facility Renewal Account are distributed. It directs 80% of annual funds to the State Lottery Fund (instead of a previous development fund), and 20% to specific racetracks: when Rosecroft Raceway operates, funds go to Rosecroft and Ocean Downs per a formula; after Rosecroft closed, funds split equally between Ocean Downs and racetracks in the Fair Hill area. The bill also requires $200,000 annually for workforce development and small business support in Prince George's County through Employ Prince George's, Inc. These changes affect racetrack license holders seeking facility grants and the designated recipients of the funds.