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Senator Geller moved the following amendment:

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     Senate Amendment

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     Delete line(s) 27-41

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and insert:

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     (b) Beginning July 1, 2008, if the slot machine tax

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revenues under paragraph (a) from a facility which operated for

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any portion of the 2007-2008 state fiscal year does not meet or

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exceed that facility's estimated tax remittance for the 2008-

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2009 fiscal year, as determined by reference to the February

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2008 Revenue Estimating Conference's estimate of tax remittances

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for each such licensee for the 2008-2009 fiscal year, and the

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total remittances for all such licensees falls short of a

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cumulative amount of $122.9 million from the slot machine

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licensees in each state fiscal year, an additional amount shall

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be paid by each slot machine licensee that conducted slot

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machine gaming in such year which is sufficient to make the

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total tax under paragraph (a) and this paragraph equal to that

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facility's estimated tax remittance for the 2008-2009 fiscal

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year. The additional amount to be paid by any licensee shall be

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offset in the amount by which any other licensee's remittance

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for that state fiscal year is in excess of its estimated

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remittance amount for that state fiscal year. If more than one

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licensee has a shortfall and any licensee has an excess, such

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excess amount shall be shared proportionally among those

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licensees having a shortfall based upon each such licensee's pro

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rata share of the total shortfall in taxes paid on slot machine

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revenues in such year pursuant to paragraph (a). However, a

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licensee is not required to pay taxes due for a state fiscal

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year under paragraph (a) or this paragraph in an amount greater

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than 50 percent of its slot machine revenues.

3/11/2008  3:31:00 PM     31-04768-08