NJ gov signs aid bill for casinos

Sharing is Caring!

New Jersey Gov. Phil Murphy signed a bill Tuesday night that will give tax relief to Atlantic City’s casinos — and possibly prevent the closure of as many as four of them.

The action by the Democratic governor hands the casinos long-sought relief from an existing law that allows them to make payments in lieu of property taxes to Atlantic City, Atlantic County and the school system.

See also  12 Signs that food shortages are already here

The bill scales back large increases in such payments the casinos would have had to make next year.

The state Legislature passed the bill Monday.

Steve Sweeney, the outgoing Democratic president of the state Senate, has said that as many as four of Atlantic City’s nine casinos would be in danger of closing if the bill had not been passed and signed into law. He has offered little evidence for the statement, and no casino has publicly made that claim.

See also  12 Signs that food shortages are already here

www.foxbusiness.com/markets/new-jersey-governor-signs-aid-bill-for-atlantic-city-casinos

421 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.