PILOT Agreement Pushed Back to 2017 in AC Takeover Bill

 

 

stateofthestate20091 PILOT Agreement Pushed Back to 2017 in AC Takeover Bill

The Assembly and Senate votes on an amended Atlantic City takeover bill today, with lawmakers amending the bill so that its accompanying payment in lieu of taxes agreement will take effect in 2017 instead of this year.

Assemblyman John McKeon (D-27), chairman of the Assembly Judiciary Committee, said that the change will allow the city collect more casino money by having its remaining casinos pay the same existing tax rate through the end of the year.

McKeon said the timetable for the long-delayed PILOT bill is the only substantive change to the bill, which advanced in committee Monday.

“If nothing else, it’ll be a little more for Atlantic City,” McKeon said.

This post previously said that the vote had been delayed after being scheduled for this morning, and has been corrected. The vote was originally scheduled for 1:00PM.