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Ivins: Thanks for your support on VLT
COMMISSIONER IVINS THANKS SENATE AND ASSEMBLY FOR SUPPORT ON VLT FUNDING
New York State Senate And Assembly Pass Legislation
Saratoga Springs Commissioner of Finance Kenneth Ivins Jr. today thanked members of the New York State Senate and Assembly for rejecting former Governor Spitzer’s plan to cut off VLT funding. Commissioner Ivins especially thanked City representatives Senator Bruno and Assembly Tedisco.
“Our hard work and lobbying efforts resonated with the Senate and Assembly,” Commissioner Ivins said. “This was not just about Saratoga Springs losing funding. It was also about six other municipalities in our same boat. Loss of our rightful revenue not only burdens our taxpayers with a possible double digit tax increase but will mean loss of services to tourists as well. That is not a sacrifice we should be forced to make.”
The New York State Senate passed a resolution and the New York State Assembly a bill, supporting host municipalities claim of a share of 3 ½% of the "estimated net machine income" generated by a video lottery gaming facility located within their borders. The host municipality receives 75% of this distribution and the host-county receives 25%.
“I would like to especially thank our own representatives, Senator Bruno and Assemblyman Tedisco for their support,” Commissioner Ivins continued. “The state aid from the VLT revenue is 10% of the City’s operating budget. It does not go to one project or another, but into the general fund. We are required to use this aid to ‘defray local costs associated with a video lottery gaming facility, or minimize or reduce real property taxes.’ This aid is vital to our City day to day operations.”
The current $3.8 million the City receives helps defray the cost of hosting a VLT facility within its borders. The money partially pays for the cost of increased wear and tear on the roads and infrastructure, increased police and fire protection, and reduced sales tax income from out of town patrons spending money at the Gaming and Raceway only.
“This is a tough year for the State budget,” Commissioner Ivins continued. “But we need to keep reminding our representatives of what we have going on here in our community—the people they represent.”
New York State Senate And Assembly Pass Legislation
Saratoga Springs Commissioner of Finance Kenneth Ivins Jr. today thanked members of the New York State Senate and Assembly for rejecting former Governor Spitzer’s plan to cut off VLT funding. Commissioner Ivins especially thanked City representatives Senator Bruno and Assembly Tedisco.
“Our hard work and lobbying efforts resonated with the Senate and Assembly,” Commissioner Ivins said. “This was not just about Saratoga Springs losing funding. It was also about six other municipalities in our same boat. Loss of our rightful revenue not only burdens our taxpayers with a possible double digit tax increase but will mean loss of services to tourists as well. That is not a sacrifice we should be forced to make.”
The New York State Senate passed a resolution and the New York State Assembly a bill, supporting host municipalities claim of a share of 3 ½% of the "estimated net machine income" generated by a video lottery gaming facility located within their borders. The host municipality receives 75% of this distribution and the host-county receives 25%.
“I would like to especially thank our own representatives, Senator Bruno and Assemblyman Tedisco for their support,” Commissioner Ivins continued. “The state aid from the VLT revenue is 10% of the City’s operating budget. It does not go to one project or another, but into the general fund. We are required to use this aid to ‘defray local costs associated with a video lottery gaming facility, or minimize or reduce real property taxes.’ This aid is vital to our City day to day operations.”
The current $3.8 million the City receives helps defray the cost of hosting a VLT facility within its borders. The money partially pays for the cost of increased wear and tear on the roads and infrastructure, increased police and fire protection, and reduced sales tax income from out of town patrons spending money at the Gaming and Raceway only.
“This is a tough year for the State budget,” Commissioner Ivins continued. “But we need to keep reminding our representatives of what we have going on here in our community—the people they represent.”
posted by The Saratogian City Desk at
9:39 PM
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