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Pa. Legislature OKs 61,000 Slot Machines at 14 Venues"
HARRISBURG, Pa. -- Slot machines are coming to Pennsylvania and property taxes will be reduced following two votes late Saturday night by the commonwealth's House of Representatives. In a press conference in the Capitol rotunda, moments after the passage of House Bill 2330 and SB 100, Pa. Gov. Edward G. Rendell was joined by legislative leaders and members of the House and Senate who he praised for supporting the important bills, which the governor said he would signswiftly."Tonight the people of Pennsylvania are true winners," Rendell said. "Starting now, we begin the long overdue process of recapturing billions of dollars in lost revenue, creating thousands of jobs, dramatically contributing to the future of the horse-racing industry and finally returning millions of dollars in the form of lower property and wage taxes for the citizens of Pennsylvania." Senate Bill 100 will enable $1 billion in property and wage tax relief for citizens across the state, officials said. The average reduction of $333 per homeowner will be funded by revenue from slot machines legalized in House Bill 2330.When at least $750 million in gaming revenues are available for property tax relief, every school district will be able to reduce its reliance on property taxes by a minimum of 10%, he continued. On average, districts will be able to decrease property taxes by 23%. In Philadelphia, the wage tax will be substantially reduced to a historic low for residential and non-resident wage taxpayers who work in Philadelphia, he said."For decades sky rocketing property taxes have forced seniors from their homes and discouraged new home ownership -- negatively impacting our communities," said Rendell. "Tonight's historic vote combined with the anticipated budget increases in funding for our schools will increase the state's share of funding for public education by more than one billion dollars. We are beginning to reverse the tide of unfairly burdening Pennsylvania homeowners and provide them with much needed tax relief." House Bill 2330 expands gaming in Pennsylvania to include 14 slot venues -- seven at racetracks, five non-track parlors and two at resort-based locations. These licenses will reap $610 million in license fees while revenues from slot machines will eventually fund a $1 billion property tax relief fund, Rendell said.Pennsylvania joins 17 other states that have authorized slot machines, according to a gaming industry trade group. Only one state -- Nevada -- has authorized more than 61,000 slot machines, the number that Pennsylvania will have.The bill establishes a seven-member Pennsylvania Gaming Board that will oversee all licensing and operations of the slots venues. The governor will appoint three members, and four members appointed by each legislative caucus."This bill includes far-reaching anti-corruption provisions -- making it one of the most responsible gaming laws in America that I will be proud to sign," said Rendell. "I intend to amend the governor's code of conduct further protecting against opportunities for political influence in this burgeoning industry by prohibiting people in my administration from holding any financial interest in gaming companies."Also prohibited from holding any financial interest in the gaming industry are employees of the Pennsylvania State Police and Department of Revenue; members of the Pennsylvania State Horse Racing and Harness Racing commissions and their respective staff; members of the board of state pension funds and their staff; and members of the board of the Independent Regulatory Review Commission and its employees."