Republicans in the Illinois House unveiled a $5 billion capital improvement plan Monday for the state, proposing to pay for it by allowing the state’s casinos to add room for more gamblers.
House Minority Leader Tom Cross is pushing a plan to make $5 billion in physical upgrades to state schools, roads and universities. The money for the projects would come from the creation of 6,000 new gaming positions (slot machines or spots at table games) at Illinois’ existing riverboat casinos.
The revenue would be divided three ways: $3 billion to roads and transportation, $1.5 billion for school construction and $500 million for university improvements.
Gaining approval for a casinos expansion plan is complicated. Certain lawmakers want to build additional casinos, but the existing casinos are opposing it. Casinos in Illinois have long sought additional gaming positions, howeverthey have protested that they don’t want additional positions unless the state reduces its graduated tax rates on casinos.Illinois casinos pay more in taxes as their revenue increases. For instance, a casino pays 15 percent on annual gross receipts of up to $25 million and 50 percent on annual gross receipts of more than $200 million.
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