Extended plan for North Jersey casinos
This week, a new resolution will be introduced to support the legalisation of casinos in New Jersey.
US.- New Jersey Assemblyman Ralph Caputo announced yesterday that next Thursday he is introducing a measure to detail conditions to invest revenues from North Jersey casinos if voters approve the bill in November 8th.
The casino ballot proposes to legalise new casinos in New Jersey, outside Atlantic City, which is facing a major financial crisis. Ralph Caputo’s resolution explicitly shows how state funding derived from casinos will be used, including aid to senior programs such as Senior Freeze, Meals on Wheels and PAAD (Pharmaceutical Assistance to the Aged and Disabled), funding for public space and transportation improvements and support for Atlantic City recovery initiatives.
“Voters should be clear as to what they will be casting their vote on in November. They should know where we stand. With this resolution, our intent for the state portion of the funding from casinos in the northern part of the state will now be in writing and have an opportunity to be agreed upon by both houses,” expressed Caputo.
The measure will also aim at the intent of the Legislature to establish a tax rate considerably higher than the tax rate currently applied to revenues derived from casino gambling in Atlantic City, and to be tiered according to the amount of the investment made for each casino development. Furthermore, Caputo’s resolution will define options for locations, proper selecting process to gran licenses and the administration of programs to be funded from state revenues.
“Transparency and clarity is critical for residents and all parties involved in the North Jersey casino debate, especially as we move closer to November elections. We have seen and heard many different opinions on this issue, both negative and positive. However, it is important that the Legislature’s intent for any funding coming out of a casino built in the north is spelled out clearly and as definitively as possible,” Caputo added.