5:5-169 Findings, declarations relative to exchange wagers.
173 words·~1 min read·
/nj/title-5/chapter-5/5-5-169A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
2. The Legislature finds and declares that:
a. The horse racing industry is economically important to this State, and the general welfare of the people of the State will be promoted by the advancement of horse racing and related projects and facilities in the State.
b. It is the intent of the Legislature, by authorizing exchange wagering in this State, to promote the economic future of the horse racing industry in this State, to foster the potential for increased commerce, employment and recreational opportunities in this State and to preserve the State's open spaces.
c. It is the further intent of the Legislature that exchange wagers may be taken in person, by direct telephone call, or by communication through other electronic media from residents of this State on horse races conducted within and outside of this State and may be matched and pooled on an exchange.
d. The Legislature has determined that the New Jersey Racing Commission is best suited to oversee, license and regulate exchange wagering in the State.
L.2011, c.15, s.2.