Guam, 7. November 2006 : Geldspielautomaten auf der Pferderennbahn

        INITIATIVE QUESTION
SHALL PROPOSAL B, AN INITIATIVE TO LEGALIZE
SLOT MACHINE GAMBLING AT AN
ESTABLISHED PARI-MUTUEL RACING FACILITY
IN GUAM AND TO ESTABLISH A
SLOT MACHINE GAMING TAX, BE ADOPTED
BY THE VOTERS OF GUAM?
        VOTE "YES" OR "NO"
( ) YES
( ) NO

An Objective and Independent View of Proposal B

By Guam Election Commission

This is an initiative to legalize slot machine gaming at an existing race track in Guam and to establish a slot machine gaming tax.

The initiative shall:

1. Allow licensed slot machine gambling at pari-mutuel racing facilities in Guam for persons eighteen years old or over;

2. Levy a tax of ten percent (10%) on gross slot income to be administered by the Department of Revenue and Taxation; and,

3. Create a fund to be administered by the Department of Revenue & Taxation and to be used for health care for Guam residents and for public schools in Guam.

This initiative if passed allows for slot machine gaming at a pari-mutuel racing facility in Guam which will benefit the residents of Guam by providing needed general revenues for Guam without requiring Guam to impose additional taxes or fees on its residents.

Section 1, Title 23 - Guam Tourism Revitalization Act is added to the Guam Code Annotated and states in part that the legalization of slot machine gaming at an existing race track will help revitalize tourism, stimulate economic and tourism development and create additional revenues for the Territory.

Article 3, Title 23 - Guam Tourism Revitalization Act, Section 3001. Tax; Levy. There is hereby levied an annual tax of ten (10%) percent upon Gross Slot Income. This Slot Machine Gaming Tax shall be: (a) paid monthly in arrears; (b) shall be paid into the Guam Tourism Revitalization Slot Machine Gaming Fund; and (c) shall be disbursed from the Guam Tourism Revitalization Slot Machine Gaming Fund pursuant to this Section 3001. There shall be no other tax, fee, levy or other charge assessed against Slot Machine Gaming Operations and/or Gross Slot Income.

The revenues received from this initiative will be set aside only to be used for specific programs, with at least 90% of such set aside exclusively for programs which will benefit health care and public schools.

Article 3, Title 23 - Guam Tourism Revitalization Act, Section 4001. Power to regulate held by the Department of Revenue & Taxation. States in part that the Department of Revenue & Taxation shall be empowered to make rules and regulations for the control, supervision and direction of all applicants, and licensees; provided, such rules and regulations shall be uniform in their application and effect.