An Act To Change the Allocation Formula for Revenue from Slot Machines
CONCEPT DRAFT SUMMARY
This bill is a concept draft pursuant to Joint Rule 208.
This bill proposes to change the allocation of the revenue from slot machines operated by casinos, as established in the Maine Revised Statutes, Title 8, section 1036, subsections 2 and 2-A. This bill would not change the percentage of the net slot machine income being distributed, but would:
1. Return to the allocation formula established in the legislation allowing casinos that was approved at referendum, which would require reducing the funding of certain items, such as the fund to supplement harness racing purses and the Sire Stakes Fund, and eliminating the funding of other items, such as the Fund to Encourage Racing at Maine's Commercial Tracks and the Fund to Stabilize Off-track Betting Facilities. Under this proposal, the 14% of the net slot machine income attributable to the reduction or elimination of those allocations would be distributed elsewhere;
2. Reallocate the net slot machine income among the current receivers of the income, increasing the share of some, such as the Fund for a Healthy Maine, the University of Maine System Scholarship Fund, the Maine Maritime Academy and the Maine Community College System, while decreasing the share of others, such as the fund to supplement harness racing purses, and eliminating the share of others, such as the Fund to Encourage Racing at Maine's Commercial Tracks, the Sire Stakes Fund and the Fund to Stabilize Off-track Betting Facilities; or
3. Enact a combination of the 2 methods and include different recipients.