Can the state of Maryland legally do this?

"The Maryland Senate has approved emergency legislation to give the state eminent domain authority to keep the Preakness Stakes in Maryland, in hopes the measure will strengthen the state’s hand to avoid losing the race through a federal bankruptcy case." Do you think a judge would allow this to stand?
Update: "If MEC sells Pimlico and Laurel for development, I suspect that what would eventually happen would be that the rights to the Preakness name and conditions would be sold or leased to another track on the eastern seaboard." I'd just like to make a prediction here; if thats the case, I'm gonna... show more "If MEC sells Pimlico and Laurel for development, I suspect that what would eventually happen would be that the rights to the Preakness name and conditions would be sold or leased to another track on the eastern seaboard."
I'd just like to make a prediction here; if thats the case, I'm gonna guess that Monmouth Park will make a serious bid to get the race. They did a great job hosting the Breeders Cup recenly, and the Maryland & Jersey racing people have always been on good terms.
Update 2: Mike - they wouldnt DARE let it be run on a fake surface - would they????
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