Lawmakers spend $3.2M from savings account on horse racing

Louisiana lawmakers approved spending $3.2 million on horseracing purses, breeder awards and racing operations using money that originated in one of the state’s primary savings accounts.

The Joint Legislative Committee on the Budget approved the allocation without objection on Thursday.

The money will come from the Strategic Investments Across Louisiana Fund, a one-time spending account created with an $82.8 million transfer from the Revenue Stabilization Trust Fund.