While Senate President Paul A. Manglona looks forward to the repeal of Article 12, Speaker Eli D. Cabrera believes they should work on the casino measure.
Recently, the Senate passed House Bill 17-179 or the Tourism Incentive Program and House Bill 17-163 or the foreign operation corporation tax bill.
H.B. 17-179 aims to promote tourism by imposing fees on carriers for every arriving passenger in the CNMI while the goal of H.B. 17-163 is to entice foreign firms by offering them a lower tax rate.
In separate interviews yesterday, Manglona said the Senate is working on the proposed constitutional amendment to repeal Article 12 while Cabrera said the House will soon act on a new casino bill.
Article 12 states that only persons of NMI descent can own land in the commonwealth.
Manglona, Ind.-Rota, said they have completed all the scheduled public hearings on Rota, Tinian and Saipan and the Senate Committee on Resources, Economic Development and Programs should come up with a report in the next few weeks.
Cabrera, for his part, said the House is now putting together all the proposed amendments to the casino bill and these should be discussed as soon as they hold their next session.
Manglona’s Senate Legislative Initiative 17-10 argues that “in an open market where there is true competition for real property and home values increase over time, paying off a mortgage creates wealth.”
His proposal has to be passed by three-fourths of the members of each house present and voting and is not subject to the governor’s approval. However, it must be ratified by voters.
Cabrera, R-Saipan, said a Saipan casino will generate revenue since there are already interested investors ready to start gaming operations on island.
