Fix the Fund
It aims to strengthen education funds through taxes on casino income. Supporters of revising the fund bill believe that the money originally set aside for school funding is being transferred to other areas of the state budget. According to the Maryland Education Association, $1.7 billion in casino revenue has gone to education trust funds since 2012, but these funds have not been used to help schools and students.
Hundreds of teachers, parents and school staff gathered in front of the Annapolis State House last Monday to support the proposed constitutional amendment. They are opposed to less funding for education and called for a change in the way they raise funds. The amendment will now move to the House of Representatives, where, if passed, it will go to Maryland voters in November. The bill does not require the governor’s signature, which greatly simplifies the process. 슬롯
The Maryland Education Association says the current education gap is $2.9 billion, and if approved, the Fix the Fund Bill will increase school funding by $500 million. While this is not enough to bridge the gap, supporters of the proposal say it is a definitely promising first step in the right direction.
Maryland collects taxes from land-based casinos, and part of the taxed amount is used for education. Slot machines are taxed at a rate equal to 67% of total game revenue, and nearly half (48.5%) of the money is spent on educational trust funds. Table games, on the other hand, tax 20% of the total game revenue, and all funds collected from these games are used for schools.
Apart from casino tax revenues, Maryland schools should also receive funding from the state lottery. Lottery revenues are deposited in the state general fund, which supports several sectors and programs, including public health, education, and public safety.
Official statistics show that gambling contributed nearly $330 million to the Education Trust Fund in 2016, with 2017 figures expected to exceed $500 million.