According to an article out of Pennsylvania, State Representative Todd Stephens has proposed legislation which would see $250 million redirected from the state’s Horse Racing Development Fund to school districts that currently receive less than average state funding.

A report by The Patriot News explains that the bill would not see the racing fund eliminated, although it would ‘practically end its impact on horse racing.’

The article goes on to explain that Stephens’ legislation would see any additional slots money for the fund – after the $250 million – flow to the racing industry, ‘but that would be a few million, at best.’

The Patriot News report has quoted Pennsylvania Horseman's Benevolent & Protective Association Executive Director Todd Mostoller as saying that if the legislation passes, the horse racing industry in the state will be “gone,” adding that there will be “no industry in Pennsylvania” if the bill becomes reality.

The article does not address the wide-ranging economic impact that the horse racing and related equine industries have on the state. Mosteller has estimated that impact to be in the $4-billion range.

The report has also quoted Mostoller as saying that he’d "hate to see people who invested hundreds of millions of dollars (in the Pennsylvania horse racing industry) then to have the rug pulled out from under them."

(With files from The Patriot News)