New Jersey eyes renewed horse racing subsidies

TRENTON, N.J. (AP) - New Jersey is considering renewing financial subsidies to its horse racing industry.

Former Gov. Chris Christie, a Republican, ended state support for the industry seven years ago, diverting the money to help struggling Atlantic City.

But under his Democratic successor, Gov. Phil Murphy, the state is advancing a $100 million plan to subsidize the racing industry.

MORE: Gov. Murphy signs New Jersey sports betting bill into law | Gambling returns to 2 once-shuttered Atlantic City casinos

A bill that passed the state Senate Monday by a 40-0 vote would appropriate $20 million a year for five years to help racing at Monmouth Park, Freehold Raceway and the Meadowlands Racetrack.

The money would flow through the state Racing Commission to subsidize race purses, or prize money.

The bill still needs the approval of the state Assembly before it can go to the governor.