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F I S C A L   I M P A C T   R E P O R T

 

 

 

SPONSOR:

Hanosh

 

DATE TYPED:

2/28/03

 

HB

680

 

SHORT TITLE:

Revenue Sharing of Tribal Gaming Revenue

 

SB

 

 

 

ANALYST:

Smith

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

(73,400.0)

 

 

General Fund

 

73,400.0

 

 

Cibola County

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

 

DFA

 

SUMMARY

 

     Synopsis of Bill

 

HB680 proposes to distribute two-percent of tribal revenue sharing payments (currently due the State’s General Fund) to the county in which the tribal gaming facility is located.  Counties receiving the distribution are those with populations between 25,500 to 26,000 (2000 Census) and have a net taxable value of less than $200 million (2002 property tax year).  The county must also have two gaming enterprises located within its boundaries and be subject to the gaming compact signed by New Mexico, the U.S. Department of the Interior, and the tribes.  Annual distributions are due July 25.

 

     Significant Issues

 

The tribal gaming facilities affected by this legislation are Acoma and Laguna's Dancing Eagle Casino.  Two percent of the total payments would be made to Cibola County instead of the State General Fund. 

           

FISCAL IMPLICATIONS

 

Revenue impacts are based on FY 2002 collections-- the last year for which a full fiscal year's revenues are available.  Total net win for Acoma and Laguna's Dancing Eagle during FY 2002 was $45.9 million. Two percent that would be distributed to Cibola County totals $73.4 thousand in FY 2004 and $77.2 thousand in FY 2005.

 

SS/njw