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127th MAINE LEGISLATURE |
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LD 838 |
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LR 690(01) |
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An Act To Enhance
Equity and Efficiency for Off-track Betting Facilities |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Picchiotti of Fairfield |
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Committee: Veterans and Legal Affairs |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2015-16 |
FY 2016-17 |
Projections FY 2017-18 |
Projections FY 2018-19 |
| Revenue |
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Other Special Revenue Funds |
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($252,943) |
($337,257) |
($337,257) |
($337,257) |
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| Fiscal Detail
and Notes |
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The bill removes
6.5% of amounts wagered at off-track betting (OTB) facilities when
calculating the distribution to certain entities from the interstate
simulcasting of races. The amounts of revenue loss by entity are displayed
below. |
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Annual |
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Revenue Loss by Entity |
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Estimate |
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Sire Stakes Fund |
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-$35,055 |
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Stipend Fund |
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-$43,943 |
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Fund to Supplement Harness Racing Purses |
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-$123,156 |
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Harness Racing Promotional Fund |
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-$9,354 |
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OTB Simulcast Fund |
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-$125,749 |
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Total Annual Revenue Loss (less in prorated fiscal year 2015-16) |
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-$337,257 |
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This bill also
requires any amount payable to commercial tracks owned or operated by a
casino in the State from the OTB Simulcast Fund to be distributed to the OTB
where the amounts originated. |
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