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131st MAINE LEGISLATURE |
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LD 731 |
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LR 201(02) |
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An Act Regarding
the Licensing of Persons to Conduct Advance Deposit Wagering |
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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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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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($95,237) |
($268,916) |
($315,008) |
($367,815) |
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| Appropriations/Allocations |
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General Fund |
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$56,793 |
$77,713 |
$80,150 |
$82,665 |
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Other Special Revenue Funds |
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$1,368,273 |
$3,119,665 |
$3,556,419 |
$4,054,317 |
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| Revenue |
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General Fund |
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$152,030 |
$346,629 |
$395,158 |
$450,480 |
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Other Special Revenue Funds |
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$1,383,273 |
$3,122,165 |
$3,558,919 |
$4,056,817 |
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| Fiscal Detail
and Notes |
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This bill repeals
provisions in current law that directed the Gambling Control Unit (GCU)
within the Department of Public Safety to award one entity through a
competitive bidding process a license to conduct advance deposit wagering and
instead allows commercial tracks, off-track betting facilities and account
wagering providers to be licensed to participate in advance deposit wagering.
Advance deposit wagering licensees are directed to remit their gross advance deposit wagers to the GCU for
distribution as follows: |
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Of the 5%
remitted for: |
In-State Races |
Out of State Races |
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Credited to the General Fund |
10% |
10% |
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Fund to Stabilize Off-Track Betting Facilities
(OSR) |
20% |
36% |
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Sire Stakes Fund (OSR) |
1% |
1% |
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Agricultural Fair Support Fund (OSR) |
10% |
10% |
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Fund to Supplement Harness Racing Purses (OSR) |
24% |
7% |
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Fund to Encourage Racing at Maine's Commerical
Tracks (OSR) |
35% |
36% |
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The State's share
of the advance deposit wagering in fiscal year 2023-24 is anticipated to
generate $1,520,303 in revenue, of which $152,030 will be deposited into the
General Fund and $1,368,273 will be distributed into the various Other
Special Revenue Funds accounts listed above. In fiscal year 2024-25 the
State's share will increase to $3,466,295, of which $346,629 will be
deposited into the General Fund, and $3,119,666 will be distributed to the
various Other Special Revenue Funds accounts listed above. Corresponding
Other Special Revenue Funds allocations are included to allow for the
expenditure of the funds. |
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License and
application fees are estimated to generate $15,000 in fiscal year 2023-24 and
$2,500 in fiscal year 2024-25 when the licenses are renewed. License fee
revenue assumes that 10 new providers will seek licensure. This bill also
includes appropriations to the GCU of $56,793 beginning in fiscal year
2023-24 for one Office Assistant II position and associated All Other costs. |
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