Assembly passes part of Atlantic City assistance package

Crucial decisions for Atlantic City taking shape Thursday

Crucial decisions for Atlantic City taking shape Thursday

TRENTON - The state Assembly has passed parts of an Atlantic City financial assistance package after making changes demanded by Gov. Chris Christie when he vetoed it last month.

The key measure is the so-called PILOT bill, for payment in lieu of taxes.

It would let Atlantic City's eight casinos make specified payments for 15 years instead of property taxes.

The casinos would be able to predict their costs, and would be prohibited from appealing their taxes. That's something they have done to devastating effect on the city's finances in recent years.

Bills redirecting casino investment taxes to pay off municipal debt, and using money that once promoted the resort to help the city also were passed.

The state Senate has not yet scheduled a vote on the measures.

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