I’ve been reading newspaper articles, attending Casino Sub-Committee meetings and reading various minutes regarding the debate of what to do with the Casino “Gaming Revenue”. One proposal would only use 1/9th of the gaming revenue for tax relief placing 8/9ths into various buckets outside of voter control. And there is even a worksheet created by Councilor LeBeau that would put the gaming revenue into restricted accounts so “no one can get their grubby little hands on it.”
These proposed uses of restricted funds are an attempt to prevent tax relief by diverting the gaming revenue away from of the annual budget decided each year by the FTR process. As long as keeping the gaming revenue outside of the annual budgeting process is being pushed, then simplicity is the answer, and I propose: 25% of all “Gaming Revenue” shall be deposited into a Capital Improvement Fund and 75% shall be refunded by check to property taxpayers as a rebate in proportion to their property tax bill. Take the government out of it, and give the power back to the people to decide how to best use the money.