Saipan casino operator Imperial Pacific International Holdings is facing legislation that seeks to impose new taxes on its gaming revenue.

On Monday, the Marianas Variety reported that two House of Representatives lawmakers – including Vice-Speaker Janet Maratita – planned to introduce legislation on Tuesday that would impose a 5% tax on all gaming revenue generated in the Commonwealth of the Northern Mariana Islands (CNMI).

Saipan’s only gaming licensee Imperial Pacific currently operates a temporary casino, Best Sunshine Live. Its in-development permanent resort, the Imperial Pacific Resort Hotel Saipan, is supposed to open its first phase sometime this spring, although the company appears to be having some difficulty raising the necessary financing to complete the project.

The new HB 20-31 legislation claims that Imperial Pacific’s operations are “largely untaxed and the time has come to tax it in a fair and reasonable manner.” Imperial Pacific currently pays business gross revenue tax, a $15m annual fee to retain its casino exclusivity on Saipan, plus $20m more in annual contributions to a Community Chest Fund. Imperial Pacific has yet to comment publicly on the new legislation.