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ATLANTIC CITY, N.J. (AP) — New Jersey lawmakers are considering a measure to cut Atlantic City in on taxes being generated from the state’s thriving sports betting market. A state Senate committee on Thursday advanced a bill that would divert a 1.25% tax on sports betting that currently goes to the Casino Reinvestment Development Authority to promote Atlantic City. The bill would instead give that money to the city for local property tax relief. The amount at issue is about $2 million a year. Mayor Marty Small says his city gets nothing from a variety of state-imposed taxes on aspects of the casino and tourism industry, including parking, luxury and hotel room taxes.
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