TRENTON, N.J. (AP) — New Jersey lawmakers are about to give final approval to a bill that would punish billionaire investor Carl Icahn for closing Atlantic City’s Trump Taj Mahal casino.
The state Assembly is to vote Monday on a bill that would impose a five-year license suspension for anyone shutting down a casino after Jan. 2016.READ MORE: WATCH LIVE: Viewing, Funeral Services To Be Held For Philadelphia Firefighter Lt. Sean Williamson
That means it would only apply to Icahn at this point, even though four other casinos have closed since 2014.
President-elect Donald Trump built the casino in 1990, but cut most ties with Atlantic City in 2009.READ MORE: Pocono Summit In Monroe County Ranked 15th On Best Cities To Invest In Vacation Rentals List
Icahn acquired it from bankruptcy court in March.
He says the bill is unconstitutional, would discourage investment in Atlantic City, and make it virtually impossible to reopen the casino should he decide to do so in the future.MORE NEWS: Wildfire At Brendan T. Byrne State Forest Burns More Than 300 Acres
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