Last Friday evening, the Maryland House voted to pass a constitutional amendment that will see the voters decide how casino revenues will be used for schools in the state. State formulas currently set aside a certain portion of funds for education and this new amendment would see further funding provided.
The change would see all the casino funds go towards K-12 public education instead of redirecting monies for state budgetary needs.
Maryland school funding would increase by around $500m a year after this bill is fully approved after a four-year time frame.
“We applaud the General Assembly for taking the first step in making a new Maryland Promise to every family, in every community, that the state will fund a strong public school for their children.” Affirmed Betty Weller, Maryland State Education Association President. Pictured
The fund was set to receive about 50% of the slots revenue and generally no more than 33% would be kept by the casino companies, with the remaining 18.5% directed to other programs in the state. Additionally, after 2012 roulette, poker and other table games would see the casinos keeping 80% of the new table game profits
