Gaming tax revenue drops in Atlantic City
10 November 2008ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "Not every dollar that's deposited in a slot machine or bet at the gaming tables goes into the pockets of Atlantic City's casinos.
"New Jersey has an 8 percent tax on gross gaming revenue to finance state programs benefiting senior citizens and disabled residents, including prescription drug subsidies, transportation services and housing assistance.
"For years, things seemed rock solid with the Casino Revenue Fund, but for the first time ever there will be public hearings held by an advisory commission to discuss how to divvy up the money in the wake of Atlantic City's gaming slump.
"The first hearing is scheduled Nov. 19 in Atlantic City at the New Jersey Casino Control Commission office at Tennessee Avenue and the Boardwalk. The second will be held Nov. 21 in Senate Committee Room 4 at the State House Annex in Trenton, and the third Dec. 9 at the Bergen County Freeholders Conference Room in Hackensack. Each hearing will run from 9 a.m. to 1 p.m.
"Misono Miller, chair of the Casino Revenue Fund Advisory Commission, said the panel wants to hear directly from the public to make sure critical programs aren't being underfunded.
"'We're talking about increases for programs that have been underfunded and are crucial to the support of senior citizens who are trying to live in their homes,' she said. 'We have to state the need for the programs. We have to state the case why these programs need more funding than in the past...'"
copyrighted material written for and appeared exclusively in The Press of Atlantic City