Crist's compact deal raises slightly more
in long run than Legislature's plan
By Mary Ellen Klas
Times/Herald Tallashasse Bureau
© St. Petersburg Times
Tuesday, November 03, 2009
Crist's compact deal raises slightly more in long run than Legislature's plan
The gambling compact signed by Gov. Charlie Crist with the Seminole Tribe would raise about $9.7 million more in its first four years than the proposed compact drafted by the Florida Legislature, according to numbers released today by Amy Baker of the Legislature's Office of Demographic Research.
The primary reason: The governor allows all seven casinos to have banked card games, while the Legislature's plan, SB 788, would allow only the Broward and Hillsborough casinos to have banked card games. The governor's proposal also freezes the tribe's contribution to the state at $12.5 million per month, but that number would climb in the out years because of the expansion of the banked card games. The difference over the four-year period: 1.2 percent.
However, Baker notes, the fact that the Legislature would have allowed for more expansion of gambling than the governor's plan -- and an undetermined amount of potential tax revenue -- would have had a net reduction in the tax base.
Comparison of CS/CS/SB 788 and Compact Accepts by Governor
Florida lawmakers explore impact of gaming
St. Petersburg: © WTSP (Ch. 10)
Tuesday, November 3, 2009
Tallahassee, Florida - State lawmakers learned more about the potential of gaming in the Sunshine State. They also talked about the difference between the Legislature's plan and the Governor's proposed compact with the Seminole Tribe.
Members of the House Select Committee on Seminole Compact Review asked staff researchers and state economists about the difference between the two respective compact proposals.
Amy Baker, State Economist, said both plans remain pretty similar and differ by about $9 million. "Any expansion of gambling that you might have done outside of the bounds of Senate Bill 788 would have brought money into the state but whether you would have done it, where you would have done it and to what extent are not known to us so there's no money associated with it," Baker stated.
Baker explained why and how those "unknown factors" can potentially impact her estimates. Hence, she primarily based her reports on exactly what was stated in each respective proposal. She did not place any cash value on those "what if" factors.
State lawmakers recently wrote a letter to the federal government, asking them to intervene and stop the Seminole tribe from continuing to offer these illegal gaming activities until a compact is reached. Those same state leaders remain confident they can still reach a resolution and financially benefit from a potential Compact.