CHAPTER 485
FORMERLY
SENATE JOINT RESOLUTION NO. 39
DIRECTING THE DELAWARE DEVELOPMENT OFFICE TO UNDERTAKE AN ECONOMIC FEASIBILITY STUDY OF THE STANDARDBRED DEVELOPMENT FUND TO ASCERTAIN WHETHER THE FUND HAS PRODUCED THE RESULTS FOR WHICH IT WAS ESTABLISHED.
WHEREAS, the Standardbred Development Fund was established in 1967 under the aegis of a seven membership Board of Trustees; and
WHEREAS, the purpose of establishing the Fund was to promote the breeding in Delaware of standardbred horses so as to help the industry; and
WHEREAS, under the law the Fund receives monies by assessing the harness racing tracks 1/2 of 1 percent; and
WHEREAS, because of competition from surrounding states the racing industry in Delaware has had a difficult time trying to stay economically viable so much so that all tracks have had to request assistance from the General Assembly; and
WHEREAS, since the race tracks are the financial resource for the Standardbred Development Fund, the Fund has been placed in a very difficult position; and
WHEREAS, the trustees requested and received $100,000 from the General Assembly during fiscal year 1982 and has made a similar request for Fiscal Year 1983; and
WHEREAS, it N the feeling of the Joint Agency Review Committee that a thorough evaluation of the Fund is needed to determine if the Agency should be continued.
NOW, THEREFORE:
BE IT RESOLVED by the Senate and the House of Representatives of the 131st General Assembly of the State of Delaware, with the approval of the Governor, that the Delaware Development Office is hereby directed to undertake an economic feasibility study to ascertain and determine what course of action the General Assembly should follow regarding the Agency and to further determine whether the Agency has or can continue to meet its objectives or produce the results for which it was created.
BE IT FURTHER RESOLVED that the Delaware Development Office report its findings to the members of the Joint Agency Review Committee (Sunset) and the General Assembly no later than January 15, 1983.
BE IT FURTHER RESOLVED that upon enactment of this Joint Resolution that a copy be forwarded to the Director of the Delaware Development Office.
Approved July 23, 1982.