| 124th MAINE LEGISLATURE | ||||||
| LD 1329 | LR 1002(01) | |||||
| An Act To Allow a Resort Casino in Oxford County | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Rep. Millett, Jr. of Waterford | ||||||
| Committee: Legal and Veterans Affairs | ||||||
| Fiscal Note Required: Yes | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| 2009-10 | 2010-11 | Projections 2011-12 | Projections 2012-13 | |||
| Net Cost (Savings) | ||||||
| General Fund | $0 | ($7,650,567) | ($7,411,895) | ($7,392,390) | ||
| Appropriations/Allocations | ||||||
| General Fund | $0 | $1,146,256 | $1,158,678 | $1,178,183 | ||
| Other Special Revenue Funds | $0 | $24,963,231 | $24,963,231 | $24,963,231 | ||
| Revenue | ||||||
| General Fund | $0 | $8,796,823 | $8,570,573 | $8,570,573 | ||
| Other Special Revenue Funds | $0 | $24,963,231 | $24,963,231 | $24,963,231 | ||
| Correctional and Judicial Impact Statements | ||||||
| Establishes new
Class C crimes; increases correctional and judicial costs. Based on experience with the slot machine operation in Bangor, no additional criminal cases are expected. |
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| Fiscal Detail and Notes | ||||||
| The implementation of this bill is contingent upon approval by the voters of the local governmental body where the casino is proposed. Assuming voter approval and opening on July 1, 2010, presented below is an estimate of the potential revenues and subsequent distribution that may be generated. This estimate assumes the facility would install 1,000 slot machines upon opening, along with 54 gaming tables, and indicates a potential annual distribution of gaming revenues of $8,376,923 to the General Fund and $24,963,231 to Other Special Revenue Funds in fiscal year 2010-11. The first year license fees to the General Fund would be $419,900 in fiscal year 2010-11. Annual state costs associated with Inspectors, a State Police Detective, a Clerk IV and related costs are estimated to be $1,146,256 in fiscal year 2010-11. | ||||||
| This legislation also creates the Improve Maine's Economic Development and Transportation Infrastructure Fund within the Gambling Control Board, into which the funds for economic development and transportation infrastructure are deposited. The bill does not include language indicating how these funds would be distributed, or how such projects would be selected. | ||||||
| This analysis assumes no significant effect on revenue generated by the licensed racino facility in Bangor. If there is an appreciable change in racino revenue, there will be a change in the amounts of revenue distributed from that facility. | ||||||
| Annual | ||||||
| Summary of Gaming Device Revenue | Estimate | |||||
| Gross Revenue (total value of money, tokens, credits, other value used to play a gaming device | $837,692,308 | |||||
| Player Payback (assumed at 91.55% of gross revenue) | $766,907,308 | |||||
| Administration Reimbursement to State (1% of gross revenue) | $8,376,923 | |||||
| Net Income (gross revenue - player payback - general fund administration) | $62,408,077 | |||||
| State Share of Net Income (40% of net income) | $24,963,231 | |||||
| Municipal Share of Net Income (assumed at 3% of net income) | $1,872,242 | |||||
| Operator Share of Net Income (57% of net income) | $35,572,604 | |||||
| Annual | ||||||
| State Revenues by Fund | Estimate | |||||
| General Fund | ||||||
| Administration (1% of gross revenue) | $8,376,923 | |||||
| Total General Fund Distribution | $8,376,923 | |||||
| Other Special Revenue Funds | ||||||
| Economic development projects - 50% statewide and 50% Oxford County | $12,169,575 | |||||
| Transportation infrastructure projects - 50% statewide and 50% Oxford County | $12,169,575 | |||||
| Municipality in which gaming facility is located | $624,081 | |||||
| Total Other Special Revenue Funds Distribution | $24,963,231 | |||||
| Other Revenue Impacts to the State | ||||||
| License fees to the General Fund | $419,900 | |||||
| Summary of Expenditure Impacts to the State | ||||||
| General Fund | ||||||
| - Public Safety | $1,146,256 | |||||