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NewsJanuary 25, 2002

Gov. Bob Holden's proposal for raising the additional $220 million needed to fully fund in fiscal year 2003 the formula for distributing state aid to local school districts: Gambling related Hiking gaming boat admission fees from $2 to $3; $50 million...

Gov. Bob Holden's proposal for raising the additional $220 million needed to fully fund in fiscal year 2003 the formula for distributing state aid to local school districts:

Gambling related

Hiking gaming boat admission fees from $2 to $3; $50 million.

Repealing the casino loss limit of $500 per person every two hours; $75 million.

Increasing the state's take of gross casino earnings for patron losses from 20 percent to 22 percent; $31.5 million.

Allowing the Missouri Lottery to operate keno games at bars and other adults-only establishments; $20.8 million.

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Other

Allowing the state, rather than retailers, to keep excess sales taxes if the customers overcharged can't be identified, which would cover most cases; $10 million.

Reducing to 0.5 percent the discount given to retailers for filing their sales taxes on time to offset the cost of collection; $24.9 million.

Offering a tax amnesty to businesses and individuals who agree to settle past debts with the state agreeing to waive interest and penalties; $15 million.

TOTAL: $227.2 million

Source: Missouri Division of Budget and Planning

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