Bill to Renovate Pimlico, Laurel Park Passes into Law

The Racing and Community Development Act of 2020, a capital plan to preserve and enhance Pimlico Race Course as well as year-round racing at Laurel Park, officially passed into law May 7 without the signature of Gov. Larry Hogan. 

Designated as SB987, the bill passed March 18 in the Maryland General Assembly. The vote in the Senate was 44-1 in favor of the bill, and the vote in the House was 113-14, also in favor. 

"In Maryland the governor has 30 days to either sign, veto, or allow a law passed by the general assembly to become a law without his signature," said Thoroughbred Horsemen's Association chairman Alan Foreman. "This is standard practice. The 30 days ended today, he issued his vetoes this afternoon, and he allowed the plan to become law without his signature. 

"Because of COVID-19, I don't think there are any bill-signing ceremonies this year, so that becomes law without his signature. In any case, it's official and that is the most important thing." 

The legislation will provide for the redevelopment of Pimlico and Laurel Park as well as the conveyance of the Bowie Race Course Training Center. The Maryland State Authority is authorized to issue up to $375 million in bonds for financing planning, design, construction, and any related expenses needed for construction management, professional fees, and contingencies in connection with the racing facilities.

The financing plan provides for at least $180 million in funding to address anticipated project costs to be allocated to Pimlico and $155 million in costs to be allocated for Laurel Park. 

As part of the long-term agreement, Pimlico will be turned over to Baltimore City, the Baltimore Development Corporation, or another previously established designated entity. In addition, the agreement must ensure that the Preakness Stakes (G1) remains at the site.