Seven years in the making, the Georgia legislature is on the cusp of voting to allow the constitutional amendment on the November ballot for parimutuel wagering and horse racing. The “Harry Geisinger Rural Georgia Jobs and Growth Act” passed through the Regulated Industries Committee and will now go to the floor for a full vote. The bill is expected to be put on the floor next Wednesday ahead of Crossover Day.
One of the key pieces that fell into place on Thursday was the passage of the enabling commission that would regulate the industry by members appointed by the governor. The measure also allows for at most five possible racing tracks across the state, but Senator Brandon Beach (R, Alpharetta) told InsiderAdvantage he is skeptical that many tracks would be built. Atlanta and Savannah are obvious candidates for two and Augusta, Columbus or Macon may try to attract builders if allowed.
Previously, the legislation called for both the constitutional amendment to be passed on a November but also for would-be host counties to hold referendums to allow another vote. The legislation this year only calls for the county commission to pass an ordinance or resolution in favor to allow a racetrack in their county.
“In seven years, this is the farthest we have come. For it to pass 9-1 out of committee like it did was huge,” Beach told IAG Thursday. “Both motions to pass it out were seconded by Democrats so it’s a bipartisan measure. This bill is about racing but it is really about building an equine industry. Kentucky has people flying in from all over the world and the state gets 7 percent of that. It may take some years but once you have Georgia-bred races competing or winning races, the investment could be tremendous.”
“So many jobs could flow, veterinarians, track workers, agriculture jobs like hay growers. This could be as much of a real estate deal as anything. The economic impact of hosting a Breeder’s Cup race, which is likely once we build a track, could be $100 million.”
The thing that Beach emphasizes the most is that the state would not be putting in money into the industry. They would allow the industry but all the tracks would be privately funded, the farms and all the associated jobs would be from private business. “There will be no public money added into the bill. If it doesn’t work, that’s the free market, the states not on the hook for that. If someone wants to open a steakhouse across from Bones, it is their right to do that and do their best to try and make it work.”
As the vote approaches next week, opponents of the bill such as Baptist or other evangelical groups – are likely to reach out to their activist groups to try and pressure legislators against it but with the bipartisan agreement on committee, the bill may have a better chance this year than ever before.
