While the amount dedicated from gaming revenue and charitable contributions to public education varies each year, it is a significant amount and commitment. Following is a listing of money that is earmarked for public education:
• The riverboat and racetrack casinos that comprise the 17 licensed members of the IGA pay over $300 million in gaming taxes each year. Of that, between $60-90 million is allocated annually for the general fund. Since public education is a significant portion of the general funding each year, a large portion of the gaming funds are used for that purpose.
• Five million dollars of gaming tax revenue is earmarked annually for the school infrastructure fund which provides grants to fix up aging school facilities to maintain a quality education environment.
• A portion of gaming tax revenue each year goes to the Rebuild Iowa Infrastructure Fund (RIIF), which funds new buildings, fire alarm/sprinkler system upgrades and more at the three state universities plus schools for the deaf and blind.
• Each member casino contributes millions of dollars annually to their respective nonprofit license holder who in turn provides grants to thousands of worthy organizations. Those beneficiaries include laptops for schools, library books and other requests. A few include scholarship programs.
For a better perspective of where the gaming tax revenue is allocated, look at our website under the Reinvesting in Iowa section to find links for the Appropriation of State Gaming Taxes and the Gaming Benefits Iowa series.
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