Senate rejects putting casino revenue into permanent fund

Tuesday, Feb. 15, 2000 | 9:17 a.m.

Sen. Billy McKibben wanted to put more than one-third of any back payments from tribes and half of any revenue sharing under new compacts into the Native American Permanent Fund.

The fund would have been invested by the state investment officer. The income would have been used for health, economic development, infrastructure development, education and other projects for all tribes.

"I can't think of a better long-term proposal. ... All Native Americans would benefit; it's not just the gambling tribes," McKibben told his colleagues.

Some opponents said the timing was wrong because it's not clear that any new compacts will be voted on by lawmakers before the session ends on Thursday.

Others said the state should keep whatever revenue it gets from slot machines, not give it back to the tribes.

"What about the rest of us? Don't we need schools and roads and bridges?" asked Sen. Roman Maes, D-Santa Fe.

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