Administrator of Alabama's Pension Fund Urges Legislators to Allow Gambling
The person in charge of overseeing Alabama's pension fund is urging Governor Kay Ivey (R) to hold a special legislative session to continue the discussions about authorizing casino gambling. This discussion involving casino gambling came to a halt earlier this year in Montgomery's capital.
David Bronner is the CEO of the Retirement Systems of Alabama (RSA), a pension fund program for the retired state employees. The RSA is well-known worldwide for creating the Robert Trent Jones Golf Trail, which consists of 11 golf courses spread across the state. Bronner played a major role in bringing this golf destination to life.
Bronner is searching for alternative sources of funding and believes that lawmakers who pushed for legalizing a lottery, commercial casinos, and sports betting are on the right track. However, the compromise reached by a special legislative committee relating to this gaming package failed to make it through the state Senate. In contrast, the House had no issues passing the gaming bill with the required three-fifths majority support.
A Special Session Is Necessary
In The Advisor, the RSA's June newsletter, Bronner points out that the participants in Alabama's pension program have not received a cost-of-living adjustment for the last 18 years. The extra revenue that would be generated by a lottery and casino gaming could be used to increase their pension payouts.
After the Senate's narrow loss in voting for the gaming package, Ivey, who is the most popular Alabama governor in recent times, was questioned about holding a special session to support the gaming bill. She replied, "Why would I do that?" Bronner suggested that the governor initiate a special session to help get the gaming bill passed.
Ivey has been in favor of allowing slot machines, table games, sports betting, and a lottery in Alabama. But following the Senate's stalemate earlier this month, she stated that she would not call for a special gaming session since lawmakers "cannot come to a consensus among themselves."
Bronner pointed out that the recent tax cuts enacted by the Legislature on groceries and overtime pay, along with various tax credits, for instance, $100 million for school vouchers, mean a reduction in funds for Alabama's pension system.
"Antigaming activists may suggest hiking Alabama's property taxes, which are the lowest worldwide, to compensate for the lost revenue. However, this has proven impossible in the past," Bronner wrote. He concluded by encouraging RSA enrollees to question the lawmakers who voted against the gaming bill about how they plan to handle the challenges faced by the state without any fresh sources of revenue, considering the recent tax cuts and the federal government's reduction in financial aid.
Push for Gaming
Efforts to introduce new forms of gaming to Alabama have persisted since 1999, when voters rejected a ballot referendum calling for a state-run lottery. Currently, Alabama is without a lottery, commercial casinos, racinos, sports betting, and iGaming.
The state's only federally recognized tribal group, the Poarch Band of Creek Indians, operates three tribal casinos, featuring electronic bingo-based games that look like regular casino slot machines. These casinos are open to the public and are popular among tourists as well as residents.
Read also:
- Leverkusen claims victory in the cup, securing a double triumph.
- Alonso achieves a double victory after consuming a German brew.
- Does the SVolt factory in Saarland face stability issues?
- Furor surrounding Sylt scandal footage