The New Jersey Assembly has passed a package of bills to help keep Atlantic City from running out of cash.
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The bills were amended Thursday in ways meant to tie up technical errors and confusions in the legislation, but Christie indicated Wednesday he would review the changes before committing to sign the bills.
Have Atlantic City casino’s lived up to their promise to save Atlantic City?
Senate President Steve Sweeney said he believes Atlantic City officials will be able to eliminate the city’s deficit and devise ways of balancing its budget over five years.
Atlantic City’s 2016 budget now has a roughly $100 million deficit.
“We have to work together”.
Prieto had blocked the earlier bill from getting a vote because he was against a state takeover of Atlantic City. The long-delayed PILOT bill for its remaining casinos is expected to bring in $120 million from each casino during its first year, and will increase those payments by two percent annually for the next nine years.
“This plan gives Atlantic City the opportunity to do the job itself to prevent bankruptcy and make desperately-needed financial reforms”, said Senator Sweeney.
“Certainly no one is going to lend us money”. “We must have a workable plan that is implemented and followed that will reduce spending, reform government operations so that city services are maintained and the taxpayers of Atlantic City and New Jersey are better protected”. His administration or that of his successor would also have the power to step in and take over the city if it determines the local government isn’t living up to its promises over a period of five years. The package before Christie provides $45 million in redirected casino taxes, and the city hasn’t yet found out whether its state aid will be more, less or the same as last year’s $38 million.
The head of New Jersey’s state Senate says it’s time to start a campaign to drum up support for two new casinos in the northern part of the state, near New York City.
“I thought from the very beginning it was extremely doable”. They accounted for about 70% of the city’s tax revenue. He did not say whether he would sign or veto the bill, but said he doesn’t see why the decision to ban smoking shouldn’t be left to towns across the state.
“I’m pessimistic about what would happen to Atlantic City if those new casinos get” approved, he said.
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“Cigarettes not only pose a risk to human health, but cause harm to our environment and animals”, which ingest them, said Jeff Tittel, director of the New Jersey Chapter of the Sierra Club.
