FOR IMMEDIATE RELEASE
State Rep. Frank Burns
Burns’ property tax relief amendment adopted
HARRISBURG, Oct. 27 – State Rep. Frank Burns, D-Cambria/Somerset, said the state House Wednesday unanimously approved an amendment he authored to provide greater tax relief from gaming revenues.
Burns’ amendment to H.B. 2009 would divert table game revenue to the Property Tax Relief Fund after table games are up and running for two years. If enacted, it would trigger property tax relief to homeowners from table game revenue around mid-2012, he said.
“Promises were made to the citizens of Pennsylvania that gaming funds will be used for property tax relief and my amendment would carry out that promise,” Burns said.
Currently, these revenues are deposited in the General Fund until the balance in the Rainy Day Fund exceeds $750 million.
Burns said that under this formula, it is possible to postpone the transfer of these revenues indefinitely by keeping the Rainy Day Fund balance below the necessary threshold.
Burns’ proposal would institute a definitive end date and ensure that Pennsylvania homeowners begin to see the impact of gaming revenues on their property tax bills by directing nearly $100 million per year in gaming monies to property tax relief.
“My amendment simply brings us back to one of the primary objectives of the Gaming Act – to provide a significant source of revenue to support property tax relief,” Burns said. “I am pleased that my colleagues in the House agreed that providing this relief is important, and I urge swift passage of H.B. 2009 as amended by my proposal.”
House Bill 2009 as amended awaits final passage by the full House.