Senate President Joe Negron wants to use gambling money sitting in the state’s treasury for spending next year, but said it won’t spell disaster if lawmakers can’t.
The Stuart Republican, speaking to reporters after Thursday’s floor session, said he was “optimistic” that the Legislature will finally pass an omnibus gambling overhaul that includes a renewed blackjack agreement with the state’s Seminole Tribe.
Despite ongoing litigation over its right to offer blackjack, the Tribe continues to pay gambling revenue share to the state, nearly $40 million for just the first two months of this year.
That money – expected to total $306 million this year – is deposited but not marked for spending into the General Revenue Fund.
Meantime, a new deal that would guarantee exclusive rights to keep offering the card games in exchange for a $3 billion cut to the state over seven years is included in this year’s House and Senate bills.
“We also have money – as I call it, ‘sitting in trust’ – that is available if we need it,” Negron said. “It could be purposed this year for tax cuts, for expenditures. So it’s important for the budget for a gaming bill to pass.”
That said, Negron quickly added, if nothing passes this year, it won’t be “a disaster.”
He favors expanding some gambling, including allowing counties that passed local referendums to have slot machines. The House generally wants gambling opportunities held in check.
“We can pass a budget with a gaming bill or without, but my strong preference … is to be able to use those revenues for good purposes,” he said.
As House Commerce Committee chair Jose Felix Diaz put it Wednesday, “Gaming is one of those bills that’s left for the end.”
“It’s too important to too many people, and it has too many repercussions for the budget,” the Miami-Dade Republican said. “There’s a lot of money at stake.”
Negron said he expects his chamber’s working version of a 2017-18 state budget to come together by next week.
The main stumbling block has been “items and expenditures in the budget that, while defensible, aren’t as much of a priority … I see members juxtaposing one project against another and then having to make tough decisions.”
He also said he wouldn’t unlink his tax swap plan that repeals a subsidy for the state’s insurance companies and applies the funds to a cut in the business rent tax. Business interests and the insurance industry oppose the plan.