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October 7, 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.
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