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$47M from casino’s FY’16 BRGT identified for appropriation
Rep. Antonio Sablan (Ind-Saipan) has authored a resolution to formalize the amount of business gross revenue taxes paid out by the Saipan casino, projected at $47 million for this fiscal year, so that these may be appropriated by the Legislature.
Saipan casino law provides that these BGRT funds would be appropriated for the levelized energy adjustment clause rate subsidy, the local hospital, the medical referral program, and payment of land compensation judgments, and the Public School System.
House Speaker Ralph Demapan (R-Saipan) had earlier asked Torres to identify these funds for Fiscal Year 2016.
Torres, in an Aug. 1, 2016 letter, identified additional projected resources from the gross revenue tax from Saipan’s exclusive casino in the amount of $47 million for FY 2016, according to the concurrent resolution pre-filed last Thursday.
“The Legislature desires to approve the additional resources which are available for appropriation in Fiscal Year 2016” pursuant to the casino law, the resolution states.
The House earlier adopted a concurrent resolution, HCR 19-1, identifying $149.45 million available for appropriation, following Torres’ submission of his proposed budget for next fiscal year.
