A bill that would shift $30 million from the Casino Redevelopment Authority to the horse racing industry in the state of New Jersey over a three-year period progressed in the legislature on Jan. 10.

The money would be paid on a sliding scale: $15 million in 2011, $10 million in 2012, and $5 million in 2013 under the premise other funding would become available as legislation is passed to spur pari-mutuel wagering in the state. An expansion of the off-track wagering network and exchange betting are among the options.

The Senate and Assembly both passed the legislation, which now must be signed by Republican Gov. Chris Christie.

The funds would go directly to the New Jersey Racing Commission (NJRC), not the New Jersey Sports and Exposition Authority (NJSEA), which in the past received an annual payment from Atlantic City casinos in exchange for not pursuing alternative gaming at racetracks. The NJRC would divvy up the money; Christie as usual would retain veto power

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