Jefferson City, MO – The Missouri House has given initial
approval to a new way of distributing casino gambles taxes to the public schools.
The money currently moves through the basic funding formula, which considers such things as local property values and taxes.
The new approach would remove casino revenues from the formula and distribute them to schools on a per pupil basis.
Republicans backing the bill say it carries out what voters expected when they approved casino gambling ten years ago.
The new funding approach would take effect for the 2004-2005 school year, but only if the state has enough money to fund the
full amount called for under the basic school formula.
The bill, voted on today, still needs a final House vote before moving to the Senate.