CCP 06-29-1992 - Laserfiche WebLink

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. Charitable Gamblirq update/Conclusions Page Two An equitable solution may be to require the trade area spending requirement to 30 percent (effectively 20 percent) of net profits from the existing 50 percent level. Although not "revenue neutral" (14.3 percent of gross profit in discretionary spending v. 15.6 percent today - 13.3 percent if a 1 percent gambling tax were inpose:l), this approach still allows non-profit organizations an opportunity to raise significant funds for charitable purposes. DISCUSSION WITH CITY ATI'ORNEY: On June 24, I discussed my June 22 memo (see attached) with Attorney Filla. Mr. Filla generally agreed with suggestions and would be prepared to discuss any questions Council may have about this info:anation. ~ONS: 1. Council should mandate tlpQR 100 percent carrpliance with the present 10 percent net profit contril:x1tion requirement retroactive to the beginning of 1992. 2. In order to regulate 10 percent net profit contril:x1tion and trade . area sperrling carrpliance, Council should consider imposing a 1 percent gambling tax. 3. In light of the significant aIroUnt organizations spend for various State gambling taxes, Council should consider reducing the trade area sperrling requirement to recognize the inpact of the State tax l::urden to the organizations. A reduction from 50 percent to 30 percent seems appropriate. 4. Create a standardize:i reporting fonnat for licensed organizations. The fom (see attache:i example) would require monthly reporting (and payment) . The form would also collect trade area sperrling info:anation. TP/ts Attachments .