The first bill, S1774, will set up a $62 million casino/hotel development fund to help move current and new projects in Atlantic City along. A second part of the bill is aimed at directing more Casino Reinvestment Development Authority dollars, which are derived from casino revenues, to projects in the southern part of the Garden State.
The other bill, S1661, will phase out the 4.25% tax levied on the free rooms and other benefits that the Atlantic City casinos extend to the so-called "high rollers." Lawmakers had imposed the tax just last year to generate more tax dollars during the state's budget deficit crisis.
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