| 124th MAINE LEGISLATURE | ||||||
| LD 924 | LR 1799(02) | |||||
| An Act To Clarify the Taxability of Promotional Credits in the State Gaming Laws | ||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | ||||||
| Committee: Legal and Veterans Affairs | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| No net fiscal impact | ||||||
| Fiscal Detail and Notes | ||||||
| This bill clarifies that promotional credits are not included in the calculation of gross slot machine income, net slot machine income or payback percentage. The use of promotional credits could increase business at Hollywood Slots, thereby increasing the amount of income the State receives. However, given the forecast for disposable income in the latest Consensus Economic Forecasting Commission report, it is anticipated that any additional income to the State from Hollywood Slots would be reduced by reductions in other income categories, i.e. lottery and sales tax. | ||||||