It became clear that there is still a chance for Mississippi-based casinos to contribute to the well-being of the counties they are located at. The bill, aimed at directing certain funds generated from casinos back to the regions where the venues are situated is still on the agenda.
Initially, the sum that was proposed to be set aside was $29 million but yesterday the Senate Finance Committee of Mississippi made the decision to increase it to $36 million.
The so-called House Bill 1630 was amended and as a result, the state Gaming Control Act demands the sum of $36 million to be given to the counties. Currently, the existing casinos have to pay tax equal to 12% of the gross gaming revenue.
The funds that are to be given to the counties are intended to improve the infrastructure and help for the maintenance of bridges throughout the state.
Actually, Mississippi officials and the representatives of the Gaming Counties Bond Sinking Fund were planning to keep the roads in a good condition and attract more visitors. That was the information revealed by Larry Gregory who is often associated with his former position of an executive director of the Mississippi Gaming Commission. Currently, he is appointed as an executive director of the Mississippi Gaming and Hospitality Association.
In conclusion, he added that the well-maintained infrastructure ensures safe transportation to the casinos.
At present, counties where casino venues are located, do not receive considerable funds, set aside from the casino taxes. If the current bill had been introduced earlier, many construction-related issues could have been solved.
People familiar with the matter reminded that the Popp’s Ferry Bridge needs replacement, roads in Hancock and Harrison also need maintenance.
Now, the amendment proposes a Gaming Economic Development Fund to be established and those counties that have casinos to be provided with the necessary funds. A great part of the above-mentioned sum of $36 million will be set aside for repayment of the $400 million in bonds. As much as $29 million will be needed for making improvements of the bridges in the state. The rest of the sum will be used for infrastructure purposes.
A representative of the Mississippi gambling officials shared that the safe roads are really important but there was another side of the coin. Those engaged in the tourism and gambling industry also need financial aid in order to be competitive and able to attract visitors.
