Sen. Ellyn Bogdanoff, R-Fort Lauderdale, has just released the rewrite of SB 710., her bill to allow for three destination resort casinos in Florida. The strike-all amendment requires voter approval of all new games, gives pari-mutuels the opportunity to install slot machines if voters agree, regulates internet cafes and attempts to end the ever expanding loopholes in the state's gambling laws.
To do that her bill expanded from 137 pages to 170. Here it is: Download Bogdanoff rewrite 0106
Here are the highlights from her staff:
* The tax rate was changed back to 10% for limited gaming. Tax Rate of 18% for slot machine licensees once a destination resort begins conducting games. Note: this reduces the rate from 35% to 18%. Also the reduction does not occur immediately. Pari-mutuels who obtain a license for limited gaming will pay 10% tax rate. The facilities must otherwise comply with the resort act, which includes paying $125 million in licensing fees and submitting to a background check. Also note that this draft removes the requirement that the pari-mutuel facility reinvest in their facility prior to obtaining a limited gaming license.
* The strike-all now regulates electronic game promotions. All electronic game promotions must register with the department, provide a bond, and provide certification that the game promotion complies with the laws. Prohibits game promotions from advertising the establishment as a gambling house and requires all terminals to have notification on them that the games do not impact the results of the game promotion.