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Finance panel adopts VLT amendment with floor-space protections and directs new lottery revenue to schools
Summary
The Finance Division II voted 4-3 to adopt an amendment changing how video lottery terminal (VLT) conversions and related revenues would be handled, keeping table-to-machine floor-space protections and directing new lottery revenue toward public school adequacy funding rather than into the broader Education Trust Fund.
The Finance Division II on Monday adopted an amendment to House Bill 2 addressing the conversion of historic horse-racing machines to video lottery terminals and the disposition of resulting lottery revenue.
The amendment passed on a 4-3 voice/hand vote after members insisted on two substantive changes: keeping a 70% maximum allocation of gaming floor space for machines (rather than a proposed 90%) and directing new lottery revenue toward public school adequacy grants rather than leaving it in the broader Education Trust Fund. The motion passed 4 in favor and 3 opposed.
The measure was presented by Charlie McIntyre, Lottery Director. McIntyre told the committee he had received the most recent amendment “Saturday” and said the timing made revenue estimates difficult. “I received this information, the latest version of the amendment. I think it was Saturday,” McIntyre said, explaining staff had…
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