and Benefits New funds for schools and other services
“ State governmental entities will receive an
estimated $105.1 to $130.0 million annually for elementary and secondary education, and ✔ Provides over $100 million per year in new revenues to schools by increasing the state tax casinos pay to 21% and updating the $5.0 to $7.0 million annually for higher state’s casino regulations. The education, early childhood development, veterans, and other programs. Local Schools First governmental entities receiving gambling tax and fee revenue will receive an estimated ✔ Ensures that these casino tax revenues can only be used to fund education – and cannot be used to replace or supplant other Initiative $18.1 to $19.0 million annually. – Official Fiscal Note ” education funds.
✔ Allows Missouri to compete on an equal
Prepared by the Missouri State Auditor basis with other states for casino visitors by The 2008 ballot measure that provides more eliminating outdated chip limit and patron funds for Missouri schools from tracking card regulations that do not exist in any other state. taxes paid by casinos. ✔ Limits the number of casinos in Missouri to YESforSchoolsFirst.com those already built or under construction. Protects existing jobs and revenues ✔ Over 12,000 good-paying, local jobs with ✔ Generates millions in new funds for early benefits at Missouri’s riverboat casinos childhood programs, veterans’ services, and other state and local services from the ✔ Over $280 million per year in existing $2 per visitor excursion fee paid by casinos. school revenues ✔ Over $31 million per year for early childhood programs and $6 million per year for veterans’ services ✔ $5 million per year for the Missouri YES for Schools First Coalition College Guarantee Program P.O. Box 191610 St. Louis MO 63119-7610 ✔ $85 million in annual tax and fee revenues Tel: 800-817-3507 that local communities receive from YESforSchoolsFirst.com casinos Paid for by YES for Schools First Coalition ✔ $42 million in annual property taxes, sales Mark Reading, Treasurer taxes and rent payments paid by casinos About the Schools First Initiative More funds for our schools – without increasing our property or income taxes. The Schools First Initiative is a measure proposed for the November 2008 statewide ballot. Basically, it will provide more than $100 million per year in new funds for elementary and secondary schools statewide by increasing the tax on riverboat casinos and updating Missouri’s casino regulations.
Outdated regulations threaten funds for
our schools and other services. The Schools First Initiative makes school funding The initiative protects the more than 12,000 the first priority for casino tax revenues. local jobs riverboat casinos provide. The 1992 law allowing riverboat gaming in Missouri requires casinos to pay a 20% state tax on gross revenues that is dedicated to education. Missouri casinos also pay tens of millions each Initiative increases and protects Initiative ensures school funds can only year in property and corporate income taxes – plus revenues for schools and other services. be used for schools. a $2 per visitor excursion fee that is used to help The Schools First Initiative increases the state tax The Schools First Initiative specifically prohibits fund early childhood education, veterans’ services, casinos pay on their gross revenues to 21% and the existing and new school revenues provided by and other state and local programs. eliminates Missouri’s outdated chip limit and the casino tax to be used for any other purpose. player tracking card regulations, so Missouri can It prohibits the legislature from using these Missouri’s 1992 casino law included an unusual compete for visitors on an equal basis with other revenues to replace or supplant any other rule that prohibits a casino patron from buying states. It also prevents over-saturation of the in- education funds. And, it requires annual audits more than $500 in chips during a two-hour state gaming market by setting a limit on the by the State Auditor to ensure that school period. To enforce this so-called “loss limit,” state number of riverboat casinos allowed in Missouri. revenues are being increased and used for regulators require Missouri casino visitors to get education as intended by the initiative. special player tracking cards that let the state Independent studies by the Missouri State government monitor the chips they buy. Auditor and the Missouri Gaming Commission have concluded that these updates will provide Here’s how you can help. No other state has these intrusive, red tape $105 to $130 million in new revenues each year A coalition of teachers, parents, concerned regulations and many casino patrons dislike them. for K-12 schools statewide – and millions in new citizens, and civic and business groups has been As a result, Missouri casinos lose visitors and revenues for early childhood education, veterans’ formed to support the Schools First Initiative. revenues to neighboring states. With major services, and other state and local programs. expansions of casino gaming planned in Kansas To join, just fill out and return the attached card and Illinois, the Missouri Gaming Commission In addition, the initiative protects the revenues – or join online by visiting our website, projects that our outdated casino regulations will that Missouri casinos currently provide for YESforSchoolsFirst.com. soon cause Missouri to lose hundreds of millions schools and other services. in gaming revenues each year.