Proposal would Provide Funds for Programming and Property Tax Relief for Seniors & Disabled
(TRENTON) — Assembly Speaker Vincent Prieto issued a multimedia package Monday unveiling his legislation that would ask voters to allow casino gaming in North Jersey and use money from that expansion to provide significant funding for programs and property tax relief for senior citizens and disabled residents, along with help for Atlantic City and the horse racing industry.
The multimedia package consists of Speaker Prieto’s remarks on the legislation and audio and a transcript of same.
The audio file is available upon request.
A transcript of the Speaker’s comments is appended at the end of the release.
Under current law, casino gambling is permitted only in Atlantic City, but the constitutional amendment proposed by the Speaker and Assembly Democrats Ralph Caputo, Gary Schaer, Valerie Vainieri Huttle, Raj Mukherji, Joseph Lagana, Tim Eustace, Marlene Caride, Angelica Jimenez and Gordon Johnson would allow the Legislature to pass laws to permit casinos in two northern New Jersey counties.
Once established, for the first 15 years, 63 percent of the state revenues would be dedicated as follows: one half for the same purposes as Atlantic City casino revenues – programs for seniors and disabled persons; and one half for state aid to each county and municipality in the state for programs and property tax relief for senior citizens and disabled residents.
Meanwhile, 35 percent would be dedicated for the purposes of recovery, stabilization or improvement of Atlantic City.
The rest would go toward the horse racing industry.
Assembly Speaker Vincent Prieto (D-Hudson):
“I think casinos in North Jersey — I’ve always advocated for them, because the State of New Jersey needs revenues.
“We need money to go to counties and municipalities to help our seniors, disabled with property tax relief. And, at the same time, sending a fair share amount to Atlantic City for development for non-gaming. And there’s also going to be a percentage for the horse racing industry that that needs money for breeding and other purposes.
“So, I think this is a bill that’s good for the State of New Jersey.”