Governor Crist Signs Seminole Compact; Florida’s 20-Year Revenue Estimated at $6.8 Billion
Aug 31, 2009
Above: Governor Crist with with Max Osceola, councilman for the Seminole Indian tribe, at a news conference about the Seminole Indian gaming compact in Tallahassee, Fla. earlier this year.
Florida Governor Charlie Crist signed a compact with the Seminole Tribe of Florida on behalf of the State of Florida today, August 31, 2009. The agreement will authorize Class III gaming on tribal lands within the State.
A press release on the signing from the Office of the Governor is reprinted below. The following attachments also are included:
Should you have any questions or comments, please contact Colodny Fass.
Governor Crist, Seminole Tribe of Florida Sign Estimated $6.8 Billion Compact
~ Compact heads to Legislature for ratification ~
TALLAHASSEE – Governor Charlie Crist today signed a compact on behalf of the State of Florida with the Seminole Tribe of Florida worth an estimated $6.8 billion over 20 years for Florida’s students, for the purpose of authorizing Class III gaming on tribal lands within the State. Governor Crist first began negotiations in July, following passage of SB 788 during the 2009 regular session. Governor Crist signed SB 788 on June 15, 2009, Tribe Chairman Mitchell Cypress signed the compact on Friday, and the compact now heads to the Legislature for ratification.
“Over the last two months, my administration has in good faith negotiated with the Seminole Tribe of Florida a compact that will reap financial benefit to the people of Florida,” Governor Crist said. “The revenue sharing between the Tribe and the State will enable the State of Florida to invest in the future of Florida’s children. I look forward to working with Chairman Bill Galvano and the Florida Legislature to ratify this important compact. “
HIGHLIGHTS OF THE COMPACT INCLUDE:
- 20-year compact between State of Florida and Seminole nation.
- $150 million annual minimum payment beginning on effective date of compact.
- Revenue sharing cycle with minimum 12 percent revenue share payment to the State.
- Limitation of expansion of games to Broward and Miami-Dade counties only.
“Another important milestone has been reached in the Seminole Tribe’s long effort to establish a compact with the State of Florida” said Seminole Tribe Chairman Mitchell Cypress. “We again want to thank Governor Crist for his continued support and we are hopeful and optimistic that the compact will ultimately become law.”
Pursuant to Florida Statute 285.710 (3), the Florida Legislature authorized and directed Governor Crist to negotiate and execute a compact on behalf of the State of Florida with the Seminole Tribe of Florida for the purpose of authorizing Class III gaming on tribal lands within the State. Florida Statute 285.710(5)(a) specifies that Governor Crist should provide a copy of that compact to the Senate President and House Speaker as soon as it is executed.
In compliance with the statutory directives, Governor Crist today sent a copy of the Gaming Compact between the Seminole Tribe of Florida and the State of Florida executed on behalf of the State of Florida with the Seminole Tribe of Florida on August 31, 2009. (Please find attached a PDF copy of the Gaming Compact between the Seminole Tribe of Florida and the State of Florida and transmittal letter to legislative leadership.)
ESTIMATED REVENUE SHARE PAYMENTS TO THE STATE OF FLORIDA:
|
Year Ending |
Compact |
|
12/1/2010 |
$150.0 Million |
|
12/1/2011 |
$150.0 Million |
|
12/1/2012 |
$183.0 Million |
|
12/1/2013 |
$236.4 Million |
|
12/1/2014 |
$261.9 Million |
|
12/1/2015 |
$292.6 Million |
|
12/1/2016 |
$308.3 Million |
|
12/1/2017 |
$319.3 Million |
|
12/1/2018 |
$330.7 Million |
|
12/1/2019 |
$342.3 Million |
|
12/1/2020 |
$354.3 Million |
|
12/1/2021 |
$366.7 Million |
|
12/1/2022 |
$379.7 Million |
|
12/1/2023 |
$395.0 Million |
|
12/1/2024 |
$410.8 Million |
|
12/1/2025 |
$427.0 Million |
|
12/1/2026 |
$443.8 Million |
|
12/1/2027 |
$461.0 Million |
|
12/1/2028 |
$481.0 Million |
|
12/1/2029 |
$501.9 Million |
|
Total |
$6.795 Billion |
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