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126th MAINE LEGISLATURE |
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LD 1298 |
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LR 1068(02) |
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An Act To
Authorize the Houlton Band of Maliseet Indians To Operate a Casino in
Aroostook County |
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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 an application for a casino
operator license from the Houlton band of Maliseet Indians. Issuance of a license is contingent upon
approval by means of a referendum of the voters of Aroostook County. This facility would be taxed at the rate of
35% of net slot income and 10% of net table game income. |
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Presented below is
an estimate of the potential revenues that may be generated from the new
facility and the subsequent distribution of those revenues. This fiscal note assumes a total of 500
slot machines and 10 table games, generating annual revenue of $206,776 for
the State's General Fund and $7,753,268 for various other funds. The Gambling Control Board, Other Special
Revenue Funds account would also receive license fees of $688,000 in the
first year and $285,000 for license renewals in subsequent years. Annual state costs associated with 5
inspectors, an auditor and other related expenses are estimated to be
$481,478. |
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This legislation
could have a significant impact on revenues generated by the Hollywood and
Oxford Casinos. An assessment of the
impact has not been done at this time. |
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Annual |
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Summary of Casino 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) |
$200,750,000 |
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Player Payback
- Slot Income |
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$180,072,750 |
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Net Slot Income |
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$20,677,250 |
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Share of Net Slot Income for Distribution - 35% |
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$7,237,038 |
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Operator Share of Net Slot Income - 65% |
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$13,440,213 |
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Net Table Game Income |
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$4,380,000 |
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Share of Net Table Game Income for Distribution
- 10% |
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$438,000 |
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Operator Share of Net Table Game Income -
90% |
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$3,942,000 |
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Annual |
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State Revenues by Fund |
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Estimate |
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General Fund |
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$206,773 |
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Total
General Fund Revenue |
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$206,773 |
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Gambling Control Board - Table Games |
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$87,600 |
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Gambling Control Board - License Fees ($688,000
the 1st year) |
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$285,000 |
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Subtotal |
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$372,600 |
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Education |
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$2,155,325 |
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Penobscot Nation, Passamaquoddy Tribe and
Mi'kmaqs |
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$1,860,953 |
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University of Maine and Maine Maritime Academy
Scholarship Funds |
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$620,318 |
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Maine Community College System - Scholarship
Fund |
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$413,545 |
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Purse Supplements |
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$206,773 |
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Sire Stakes Fund |
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$206,773 |
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Agricultural Fair Support Fund |
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$206,773 |
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County |
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$588,745 |
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Coordinated Veterans Assistance Fund |
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$294,373 |
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Town of Houlton |
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$620,318 |
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Maine Milk Pool |
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$103,386 |
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Dairy Improvement Fund |
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$103,386 |
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Total
Other Special Revenue Funds Revenue |
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$7,753,268 |
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Total Revenue All Funds |
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$7,960,041 |
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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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$108,878 |
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Other Special Revenue Funds |
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- Public
Safety |
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$372,600 |
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Total Expenditures |
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$481,478 |
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