ANNAPOLIS, MD – The House Ways and Means committee approved an amended version of Maryland governor Martin O’Malley’s gambling legislation Monday night. It is expected that the bill will be debated and voted on in the House of Delegates today.
The committee amended O’Malley’s legislation to provide greater tax cuts for Anne Arundel County’s Maryland LIVE! casino. Under the legislation, Maryland LIVE! would see its tax rate on net gambling revenues drop from 67% to 51%. The rate could drop to 49% if an independent commission agrees. A proposed casino in Baltimore would see its tax rate drop to 54%. The Hollywood Casino in Perryville would only see a drop to 62% if the commission agrees.
Del. Jon Cardin (D-11) added language which would prohibit political contributions from “gambling entities”, including limited liability companies (LLC’s). Contributions or expenditures over $10,000 to influence ballot initiatives would also have to be disclosed.