Lawmaker wants to create Texas Derby

Texas could be home to a new premier horse race with one of the richest purses in the country in the next few years, if a state lawmaker has his way.

A proposal by Rep. Harvey Hilderbran, R-Kerrville, would create a national race -- to be known as the Texas Derby or the Texas Derby Open -- that would rotate among Texas' top racetracks as soon as 2015. It would offer a purse worth up to $5 million.

"We want to draw attention to Texas racing but also to Texas as a place to race horses," Hilderbran said. "It could be the richest race in the country, something that probably will never be equaled."

Some officials say this bill comes as some horse tracks in Texas are floundering, falling behind those in other states that offer higher-dollar purses partly because of slot machine or casino business that generates additional revenue.