Bill requires casinos to make USD 50M in additional payments over seven years
More payments from casinos in revised Atlantic City aid bill
New Jersey lawmakers are asking for more from Atlantic City’s casinos under a tax assistance bill undergoing last-minute changes in the state Legislature.
2016-01-13
Reading time 30 seg
New Jersey lawmakers are asking for more from Atlantic City’s casinos under a tax assistance bill undergoing last-minute changes in the state Legislature.
The state Assembly passed changes to a bill at the heart of an Atlantic City aid package early Tuesday morning, which lets the casinos make payments in lieu of taxes.
The bill requires the casinos to make $50 million in additional payments over seven years, and would share 13.5 percent of the money collected from the casinos with Atlantic County’s government and the city’s schools to help prevent tax increases for those entities.
The Senate is expected to consider the bill later Tuesday. The changes were surprising given that the aid package had already passed the full Legislature and presumably was awaiting action by Gov. Chris Christie.
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