Thanks to State Senator Kristin Phillips-Hill, a new bill sanctioning on-going gambling has been proposed in the Pennsylvania State Legislature. The rationale is to use new gaming revenues exclusively for property tax relief.
Every state in the union that has so far adopted more lenient gambling laws sees gaming as a valuable revenue source per local needs. Bill 269 is earmarked to give a break to homeowners who will have more funds to tap into in the Property Tax Relief Fund. There should be no further shortfalls in the more than a decade-old fund.
The new law, if passed, will re-enforce the existing legislation and follow its original intent. Slot machine taxes from twelve Pennsylvania casinos go into the fund at a rate of about $530 million annually. But apparently it is not enough.
With the enormous land casino profits of $2.37 billion in 2018 alone, gaming revenues can do more for property tax relief. In spite of the windfall for casinos, last year was not the best. Revenues should improve with the newfound popularity of gambling. This means that the Property Tax Relief Fund will experience increasing fund as the years go by.
Homeowners are not the only beneficiaries. School district are also impacted. The bill is still pending but with bipartisan support, it is just a matter of time. The first move will be from the Senate Community, Economic and Recreational Development Committee.
“As the state continues to debate expansion of gaming to include internet… and video gaming terminals, I believe the Commonwealth should again ensure the revenue is used to provide property tax relief,” Philips-Hill explains. She adds that the state missed the boat with earlier casino table gaming laws.
The Keystone State is on the right road to revenues with expanded gambling venues, including several satellite casinos. On line sports betting is the new kid on the block and already a big hit, with fantasy sports soon to follow. With slot machines scheduled at truck stops, the state is fully equipped to satisfy every gaming need.
A version of this article first appeared at goldencasinonews.com