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127th MAINE LEGISLATURE |
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LD 620 |
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LR 689(01) |
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An Act To Allow
Veterans' Organizations To Own and Operate Slot Machines |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Picchiotti of Fairfield |
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Committee: Veterans and Legal Affairs |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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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, 2016, from eligible charitable
nonprofit organizations and eligible off-track betting facilities.
Documentation of approval of the voters of the municipality must be submitted
with the application. The Gambling Control Board may license up to 100 slot
machines during the first year, with 250 total slot machines allowed
beginning January 1, 2017. |
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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 $126,706 for the State's General Fund and $555,720 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 $177,692. This bill will require annual General Fund
appropriations of $9,346 and Other Special Revenue Funds allocations of
$168,346 to the Department of Public Safety to cover these annual state
costs. |
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Summary of Slot
Machine Facility Revenue |
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Gross Slot Income
(total value of money, tokens, credits, other value used to play a slot
machine |
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Player Payback - Slot Income |
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Net Slot Income |
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Share of Net Income for Distribution |
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30% charitable organizations |
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45% off-track betting facilities |
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Operator Share of Net Income |
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70% charitable organizations |
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55% off-track betting facilities |
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State Revenues by Fund |
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General Fund - Slot Machines |
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Total General
Fund Revenue |
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Gambling Control Board - Slot Machines |
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Gambling Control Board - License Fees ($61,000
the 1st year) |
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Subtotal |
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Gambling Addiction Prevention and Treatment
Fund |
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Municipalities |
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Coordinated Veterans' Assistance Fund |
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Total Other Special Revenue Funds Revenue |
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Total Revenue All Funds |
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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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Other Special Revenue Funds |
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- Public Safety |
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Total Expenditures |
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