Details of Alabama gambling bills emerge
The proposed legislation includes lottery, casinos and sports betting/
US.- Alabama lawmakers have released details of bills that will be introduced this week in a bid to legalise gambling in the state. They include proposals for a state lottery, as many as 10 casinos, sports betting and the creation of a state gambling regulatory commission.
If the legislation passes the Legislature, voters will decide whether to approve the package, which would require a constitutional amendment, at the election in November. Casinos would pay a 24 per cent tax rate on net gaming revenue. A tax rate of 17 per cent would apply to sports betting revenues.
Revenues from the lottery would support education, while revenues from the casinos and sports betting would go to the state General Fund. The legislature would pass bills annually to appropriate the funds, lawmakers said. The education funds could go to school security and scholarships for two-year community and technical colleges and dual enrollment and for non-recurring capital expenses.
. Casino and sports betting revenue would go to a General Fund Budget Reserve Fund until that fund reaches $300m. The current balance in the fund is about $150m. After that, 95 per cent would go to a Gaming Trust Fund. Five per cent would go to the county commission where casinos are located. If casinos are in a municipality, the city would get 2 per cent of that 5 per cent share.
The 10 casinos would include three currently operated by the Poarch Band of Creek Indians in Atmore, Wetumpka, and Montgomery, as well as potentially a fourth Poarch Creek casino depending on whether the governor and the tribe can negotiate a compact.
The other six casinos would be in Macon County, Greene County, Mobile County, Birmingham, Houston County and Lowndes County. Operators would be picked through an open bid process, would pay licence fees of at least $5m and would require a minimum investment of $35m.
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