Texas legislature may require a temporary casino loan

Newly-elected TX legislators will be meeting soon. This Texas legislature has a lot of issues to handle. There’s a very large budget deficit for the legislators to deal with. Casino interests are attempting to get the legislature to allow casinos within the state to give a short-term loan to the state budget.

Several interested in gambling in TX

In a few weeks, Texas lawmakers can be starting a new session. A budget deficit of $20 billion or more is exactly what the legislature has to worry about. It could be hard because it will not be popular, however lawmakers have to determine while in Fort Worth about either increasing revenue or decreasing spending. Gambling interests are trying to get the legislature to legalize gambling within the state as a way to meet that budget deficit.

Prior gambling legalization try

Gambling being legalized in TX is something that has already been considered. Lawmakers have considered it in the past. Gambling interests tried to get the bill passed last time too. In fact, gambling would have been lawful within the state if it had worked. Despite a rider that would have devoted gambling revenue to college scholarships, the bill was soundly defeated. Many lawmakers say that casinos are more than a short term personal loan to the spending budget. Some consider casinos and gambling to be a payday advance that has to be paid back with increases in law enforcement and social services.

Details on Texas gambling

There wouldn’t be an immediate change if the TX legislature passed a bill legalizing gambling. First, the TX constitution would have to be changed. Second, a significant amount of gambling revenue could be earmarked as a way to help fund higher education. Third, gambling would be put up for a public vote, and would likely be limited to individual municipalities, such as Irving and Tarrant County. Lobbyists are unsure whether the Texas gambling bill will make it through the legislature, but the desperate need of short term installment loans for the spending budget may give it a better chance of passing.

Citations

Miami Herald

miamiherald.com/2010/12/26/1989474/gambling-interests-hope-texas.html