June 13, 2017      4:01 PM

Racing industry asks Gov. Abbott to intervene in agency budget shortfall

The TRC moves forward with a stopgap measure while track owners say “We are all in this together. The industry needs to see some good faith.”

The Texas Racing Commission on Tuesday voted down a proposal to ask track owners to pony up another $1.2 million in losses to cover agency costs, a move strenuously opposed by industry.

The agency budget is covered by the fees for track licenses, both used and awaiting usage.

In recent months, three license holders have returned unused licenses to the agency. That opened a budget gap of $690,000 per year. So far, the agency has met that cut by accelerating payments and using reserve funds.

By Kimberly Reeves

Copyright June 13, 2017, Harvey Kronberg, www.quorumreport.com, All rights are reserved