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Racing Board Argues for More Revenue
(IRN)-The Illinois Racing Board wants to keep nearly $500,000 of what it says is its own money. But the state budget would take a hit.

The racing board says it loses money every year due to declining attendance at race tracks, smaller purses and overall lower revenues. State Senator Terry Link (D-Waukegan) says the industry is running out of places to make money.

"They're limited in the way their money comes into them, and it's a board that's operated from the industry, so that's why we're doing this," Link explains.

He's sponsoring a measure to divert money from board-imposed filing fees, civil penalties and other revenue streams back to the Illinois Racing Board, instead of the state's general revenue fund, where it currently goes. Link says the measure would raise an additional $475,000 for the racing board.

(Source: Illinois Radio Network)
03 18 11 by Newsroom
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