Gambling News by House of Odds

Budget Secretary Michael J. Masch released the following statement today
after the Gaming Control Board voted unanimously to approve the
administration's financial solvency plan for the board's 2006-07 operations:
"I am very pleased that the board voted to accept the administration's
funding plan, which will ensure that the board can continue its important
regulatory work and bring long-awaited property tax relief to the residents
of Pennsylvania. "The commonwealth will begin to see revenue from gaming
when the board completes its licensing activities. Gaming revenue will be
used to provide property tax relief for Pennsylvanians, which has been the
commitment of Governor Rendell since he campaigned for office. "The original
gaming appropriation was $36.1 million. Under the agreement approved today,
$6.6 million of that appropriation that had been allocated to the Department
of Revenue will now be reallocated to the Gaming Control Board. In addition,
$3.8 million of the original appropriation that had been allocated to the
Pennsylvania State Police will be reallocated to the Gaming Control Board.
As required by Act 71, the legislation that authorized gaming in the
commonwealth, all these funds will be fully repaid when gaming revenues
become available.

"Last month, members of the General Assembly joined together to pass the
Governor's historic property tax reform measure. After years of debate on
the issue, real property tax relief is now within reach. Continued efforts
by the Gaming Control Board will bring gaming revenues to the commonwealth,
and full property tax relief will be a reality."