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126th MAINE LEGISLATURE |
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LD 31 |
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LR 47(03) |
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An Act To
Increase Gaming Opportunities for Charitable Fraternal and Veterans'
Organizations |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Veterans and Legal Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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Contingent future biennium cost increase - General Fund
Contingent future biennium cost increase - Other Special Revenue
Funds
Contingent current biennium revenue increase - General Fund
Contingent current biennium revenue increase - Other Special Revenue Funds |
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| Fiscal Detail
and Notes |
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This legislation
allows the Gambling Control Board to accept applications for slot machine
operator licenses, beginning January 1, 2015, from charitable nonprofit
organizations and off-track betting facilities. Documentation of approval of the voters of
the municipality must be submitted with the application. The Board may license up to 100 slot
machines during the first year, with 250 total slot machines allowed. |
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Presented below
is an estimate of the potential revenues that may be generated from new slot
machine facilities and the subsequent distribution of those revenues. This fiscal note assumes 50 veterans'
organizations and 1 off-track betting facility would be licensed with a total
of 250 slot machines, generating annual revenue of $91,541 for the State's
General Fund and $490,337 for various other funds. The Gambling Control Board, Other Special
Revenue Funds account would also receive license fees of $61,000 in the first
year and $42,850 for license renewals in subsequent years. Annual state costs associated with an
inspector, an auditor and other related expenses are estimated to be
$171,523. |
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Annual |
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Summary of Slot Machine Facility Revenue |
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Estimate |
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Gross Slot Income (total value of money,
tokens, credits, other value used to play a slot machine) |
$7,662,000 |
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Player Payback
- Slot Income |
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$6,282,840 |
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Net Slot Income |
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$1,379,160 |
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Share of Net Income for Distribution |
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$413,748 |
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30% charitable organizations |
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$225,828 |
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45% off track betting facilities |
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$281,880 |
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Operator Share of Net Income |
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$965,412 |
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70% charitable organizations |
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$526,932 |
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55% off-track betting facilities |
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$344,520 |
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Annual |
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State Revenues by Fund |
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Estimate |
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General Fund - Slot Machines |
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$91,541 |
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Total
General Fund Revenue |
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$91,541 |
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Gambling Control Board - Slot Machines |
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$81,540 |
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Gambling Control Board - License Fees ($61,000
the 1st year) |
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$42,850 |
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Subtotal |
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$124,390 |
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Gambling Addiction Prevention and Treatment
Fund |
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$21,319 |
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Municipalities |
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$137,916 |
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Coordinated Veterans' Assistance Fund |
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$206,712 |
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Total
Other Special Revenue Funds Revenue |
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$490,337 |
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Total Revenue All Funds |
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$581,878 |
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Summary of Expenditure Impacts to the State |
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General Fund |
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- Public
Safety |
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$124,390 |
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Other Special Revenue Funds |
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- Public
Safety |
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$47,133 |
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Total Expenditures |
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$171,523 |
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