It could be the most important piece of legislation Madison County has seen in a generation.

Today, the Tax and Fiscal Policy Committee of the Indiana Senate will review a bill authorizing slot machines at Indiana horse-racing tracks. If House Bill 1835 gets out of committee and passes the Senate, it could mean as many as 1,000 new jobs for Hoosier Park.

“We need help, and we need it right now,” said Rick Moore, president and general manager of Hoosier Park. “I’ve seen it in other parts of the country; it works. Anderson will become a destination point.”

Experts predict 800 to 1,000 new jobs if the bill passes, a greater influx than Madison County has seen in decades. In a city decimated by auto industry layoffs, slot machines could put Anderson residents back to work.

State Sen. Tim Lanane, D-District 25, said the slot-machine initiative has never been in better position to succeed.

“Hopefully this will go forward to benefit not only the tracks, but horse racing in the state of Indiana,” Lanane said.

House Bill 1835 would bring 2,500 slot machines each to Hoosier Park in Anderson and Indiana Downs in Shelbyville. After passing the House 54-39, the bill must now make it out of committee before receiving a vote on the Senate floor.

So-called “racinos,” which combine horse racing with casino gaming, have given a shot in the arm to communities in Iowa, Pennsylvania and elsewhere. Rick Moore points to Mountaineer Race Track and Gaming Resort in Chester, W.Va., known for catching horses on the decline before it added slots.

“It was literally the last stop for horses,” Moore said. “Now it has become a destination spot. It has a hotel; it’s an entertainment center with big-time acts and big-time prize fights.”

Mary Loud Coady, media relations specialist at Prairie Meadows Racetrack and Casino in Altoona, Iowa, summed up the impact of slots there in a single word.

“Staggering,” Coady said. “When you compare Altoona and Central Iowa to what it was before, you could shoot a cannon through the community. (Gaming) has brought so much business to this area.”

Coady described Altoona as a blue-collar area, with a history of organized labor and widespread agriculture. Sound familiar?

Since adding slot machines in 1995, Prairie Meadows has gone from 40 employees to 1,350 — 1,266 in its casino and 84 in racing operations. A recent $60 million expansion added an events center, conference center and two restaurants.

In fairness, Prairie Meadows is a nonprofit business, channeling profits back to the community. But Coady said the creation of jobs is undeniable.