Monday, October 09, 2006

This November in Ohio, voters will be asked whether or not to legalize
casino gambling and use percentages of the tax revenue from "games of
chance" to assist students with college tuition. If approved, the plan would
legalize casino gambling at 7 racetracks across Ohio as well as 2 casinos in
Cleveland. Very similar to the legislation voted on and passed in Broward
County, Florida back in 2004. The gambling revenues earned by legalizing and
taxing casino gambling would be divided into several categories. The first
30% of the money made from slots would fund college scholarships for
top-notch students from low-income households. The next 15% would go to
local economic development, additional racing purses and gambling addiction
programs. Plans for the other 55% have not been announced. According to
proponents of the new law, the projected $800 million per year in annual
scholarship funds would be kept in private personal accounts for each
student by the state of Ohio. "The additional scholarships will allow
thousands of students each year attend college who would otherwise be
flipping burgers or doing manual labor", said Ed Nelson, a Cleveland native
and long-time proponent of the new slots proposal. On the flip-side, those
opposed to the new bill cite legalized casino gambling as a dangerous way to
generate tax revenues for education. They believe the legalization of
gambling would create more problems than additional scholarships could
resolve. Definitely an interesting issue to watch this year as the November
elections are quickly approaching.