Higher education could get a boost from new gambling laws
Bill would remove $500 loss limit and increase gambling fees.
Published Feb. 8, 2005
Sen. Chuck Graham, D-Columbia, is looking for creative ways to bring more money to higher education.
Earlier last month, Graham sponsored Senate Bill 195, which would alter certain property and gaming tax policies and direct the revenue to several programs involving higher education.
The bill would remove the $500 daily loss limit and increase the daily admission fee for excursion gambling boats to $4. Under Missouri law, riverboat gambling is the only approved type of gambling in the state.
In addition, property tax paid in other states by nonresidents would be included as gross income for Missouri income tax.
Graham said the property tax portion of the bill would primarily affect people who live in other states but work in Missouri. He said it would not affect people both living and working in Missouri.
Graham said the bill could bring in between $100 to $200 million.
"The more the General Assembly delves into the budget, the more likely it is they'll start taking a look at other ideas to bring in revenue," Graham said. "This is certainly something I think could be helpful."
Money from the bill would fund scholarships, restore budget cuts for higher education and endow faculty chairs in life sciences in the UM system.
The bill also says funds generated by these changes would not replace general revenue or lottery proceeds for higher education.
"I think one of the great challenges facing the General Assembly is how to make higher education more affordable," Graham said. "I don't know of anyone else in the Senate that has introduced a bill that actually provides more money to higher education."
Whether the bill passes the Senate Ways and Means Committee depends largely on chairman Sen. Carl Vogel, R-Jefferson City.
Bubs Hohulin, assistant to Vogel, said Vogel has not formulated a position on the bill because it has not had a hearing yet.
"Typically on a bill that he is not a sponsor of we like to have the hearing first to let everyone present their arguments before we formulate a position," Hohulin said.
Hohulin said because of time constraints, the Ways and Means Committee has not heard as many bills as it could last year.
UM system spokesman Joe Moore said the university does not have a position on the bill. He said because of the sheer volume of legislation each year, university officials are unable to review each bill.
