Senate Slots bill against the House bill

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  Senate Slots bill against the House bill
Broward slots are literally torn apart between the Senate and House bill proposals. The Senate version of the bill defines slot machines as Class III, which instigates Seminole tribal leaders to voice their demand for Class III slots, together with other casino games like blackjack, roulette and craps. In addition, the Senate bill allows for volatility in tax rates, depending on the slots revenues. Below the $100 million would be taxed at 30 percent; between $100 and $200 million would be taxed at 32.5 percent; anything over $250 million is bound to be taxed at 35 percent.

House proposal also allows for ranging tax rates, but unlike Senate it’ll range from 35 to 45 percent, depending on the number of machines installed. The number of machines is restricted under the House bill to 3,000 and pari-mutuels would receive even less than that. This counters the Senate bill that does not limit the number of slot machines at each site.

These sharp differences could eventually result in ramification of the rule writing for Broward slot machines, turning into one of the more controversial matters of the second half of the legislative session
Source: Slots2000 News Staff
Saturday, 9 April 2005
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