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| SPONSOR: | Ingle | DATE TYPED: | 02/23/01 | HB | |||
| SHORT TITLE: | Gaming Machines That Accept Currency | SB | 682 | ||||
| ANALYST: | Williams | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| $ 230.0 | $ 240.0 | Recurring | General Fund | |
(Parenthesis ( ) Indicate Revenue Decreases)
SOURCES OF INFORMATION
LFC Files
State Racing Commission
Gaming Control Board
SUMMARY
Synopsis of Bill
The bill eliminates the gaming machine specifications such that machines could accept bills of denominations greater than $20. This change would apply to nonprofit and racetrack gaming operations.
FISCAL IMPLICATIONS
The exact impact of this bill on revenues is not clear, but the impact on general fund revenue and horseman's purses would be positive. A 1 percent increase in revenues would generate approximately $240.0 in recurring general fund revenue on a full year basis.
The bill does not include an effective date, and therefore the effective date is June 17. June receipts, reported in July would be only partially impacted in the first year.
AW/ar