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126th MAINE LEGISLATURE |
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LD 31 |
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LR 47(02) |
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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 veterans'
organizations. Documentation of
approval of the voters of the municipality must be submitted with the
application. The Board may license up
to 50 slot machines during the first year, with 150 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 would be licensed with a total of 150 slot machines, generating
annual revenue of $48,298 for the State's General Fund and $156,568 for
various other funds. The Gambling
Control Board, Other Special Revenue Funds account would also receive license
fees of $30,000 in the first year and $23,750 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) |
$3,354,000 |
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Player Payback
- Slot Income |
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$2,750,280 |
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Net Slot Income |
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$603,720 |
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Share of Net Income for Distribution - 30% |
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$181,116 |
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Operator Share of Net Income - 70% |
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$422,604 |
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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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$48,298 |
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Total
General Fund Revenue |
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$48,298 |
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Gambling Control Board - Slot Machines |
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$60,372 |
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Gambling Control Board - License Fees ($30,000
the 1st year) |
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$23,750 |
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Subtotal |
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$84,122 |
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Gambling Addiction Prevention and Treatment
Fund |
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$12,074 |
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Municipalities |
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$60,372 |
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Total
Other Special Revenue Funds Revenue |
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$156,568 |
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Total Revenue All Funds |
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$204,866 |
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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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$87,401 |
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Other Special Revenue Funds |
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- Public
Safety |
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$84,122 |
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Total Expenditures |
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$171,523 |
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