WEST virginia Legislature
2017 regular session
By
[
to the Committee on the Judiciary then Finance.
A BILL to amend and reenact §29-22A-10
of the Code of West Virginia, 1931, as amended; and to amend and reenact §29-25-22
and §29-25-22b of said code, all relating to ending transfers to the Licensed
Racetrack Modernization Fund; transferring funds remaining in the Licensed
Racetrack Modernization Fund and the Historic Resort Hotel Modernization Fund
to the General Revenue Fund of the state during the fiscal year ending June 30,
2017; providing exceptions for recoupment of certain expenditures for eligible
facility modernization improvements from the Licensed Racetrack Modernization
Fund; and closing the Licensed Racetrack Modernization Fund and the Historic
Resort Hotel Modernization Fund.
Be it enacted by the Legislature
of West Virginia:
That §29-22A-10 of the
Code of West Virginia, 1931, as amended, be amended and reenacted; and that §29-25-22
and §29-25-22b of said code be amended and reenacted, all to read as follows:
ARTICLE 22A. RACETRACK VIDEO LOTTERY.
§29-22A-10. Accounting and reporting; commission to
provide communications protocol data; distribution of net terminal income;
remittance through electronic transfer of funds; establishment of accounts and
nonpayment penalties; commission control of accounting for net terminal income;
settlement of accounts; manual reporting and payment may be required; request
for reports; examination of accounts and records.
(a) The commission shall
provide to manufacturers, or applicants applying for a manufacturer’s permit,
the protocol documentation data necessary to enable the respective
manufacturer’s video lottery terminals to communicate with the commission’s
central computer for transmitting auditing program information and for
activation and disabling of video lottery terminals.
(b) The gross terminal
income of a licensed racetrack shall be remitted to the commission through the
electronic transfer of funds. Licensed
racetracks shall furnish to the commission all information and bank authorizations
required to facilitate the timely transfer of moneys to the commission. Licensed racetracks must provide the
commission thirty days’ advance notice of any proposed account changes in order
to assure the uninterrupted electronic transfer of funds. From the gross terminal income remitted by
the licensee to the commission:
(1) The commission shall
deduct an amount sufficient to reimburse the commission for its actual costs
and expenses incurred in administering racetrack video lottery at the licensed
racetrack, and the resulting amount after the deduction is the net terminal
income. The amount deducted for
administrative costs and expenses of the commission may not exceed four percent
of gross terminal income: Provided, That any amounts deducted by
the commission for its actual costs and expenses that exceeds its actual costs
and expenses shall be deposited into the state Lottery Fund. For the fiscal years ending June 30, 2011
through June 30, 2020 2016, the term “actual costs and expenses”
may include transfers of up to $10 million in surplus allocations for each
fiscal year, as calculated by the commission when the commission has closed its
books for the fiscal year to the Licensed Racetrack Modernization Fund created
by subdivision (2), subsection (b), of this section. For all fiscal years beginning on or after
July 1, 2001, the commission shall not receive an amount of gross terminal
income in excess of the amount of gross terminal income received during the
fiscal year ending on June 30, 2001, but four percent of any amount of gross
terminal income received in excess of the amount of gross terminal income
received during the fiscal year ending on June 30, 2001 shall be deposited into
the fund established in section eighteen-a, article twenty-two of this chapter;
and
(2) A Licensed Racetrack
Modernization Fund is created within the Lottery Fund. For all fiscal years beginning on or after
July 1, 2011, and ending with the fiscal year beginning July 1, 2020 2016,
the commission shall deposit such amounts as are available according to
subdivision (1), subsection (b) of this section into a separate facility
modernization account maintained within the Licensed Racetrack Modernization
Fund for each racetrack. Each racetrack’s
share of each year’s deposit shall be calculated in the same ratio as each
racetrack’s apportioned contribution to the four percent administrative costs
and expenses allowance provided for in subdivision (1), subsection (b) of this
section for that year. For each $2
expended by a licensed racetrack for facility modernization improvements at the
racetrack, having a useful life of three or more years and placed in service
after July 1, 2011, the licensed racetrack shall receive $1 in recoupment from
its facility modernization account. If the
licensed racetrack’s facility modernization account contains a balance in any
fiscal year, the unexpended balance from that fiscal year will be available for
matching for one additional fiscal year, after which time, the remaining unused
balance carried forward shall revert to the Lottery Fund. For purposes of this section, the term
“facility modernization improvements” includes acquisitions of new and unused
video lottery terminals and related equipment.
Video lottery terminals financed through the recoupment provided in this
subdivision must be retained by the licensee in its West Virginia licensed
location for a period of not less than five years from the date of initial
installation;
(3) Except as provided
in subdivision (4) of this subsection, notwithstanding any other provision of
this code to the contrary, on the effective date of the amendment and
reenactment of this section during the regular session of the Legislature in
2017, all unexpended moneys remaining in the Licensed Racetrack Modernization
Fund created by subdivision (2), subsection (b) of this section shall be
transferred to the General Revenue Fund of the state and the Licensed Racetrack
Modernization Fund shall be closed;
(4) Notwithstanding any
provision of subdivision (2), subsection (b) of this section to the contrary,
on the effective date of the amendment and reenactment of this section during
the regular session of the Legislature in 2017 and thereafter, no moneys shall
be available to any licensed racetrack for recoupment of that racetrack’s
expenditures for facility modernization improvements, regardless of when such
expenditures took place or whether unexpended balances remain in the Licensed
Racetrack Modernization Fund, except a racetrack shall receive a recoupment in
accordance with subdivision (2) of this subsection for its expenditures for
eligible facility modernization improvements incurred prior to March 1, 2017;
and
(5) Notwithstanding any
provisions of section ten-d of this article to the contrary, on the effective
date of the amendment and reenactment of this section during the regular session
of the Legislature in 2017 and thereafter, the commission shall not transfer
any moneys from any source for any purposes to the Licensed Racetrack
Modernization Fund.
(c) The amount resulting
after the deductions required by subsection (b) of this section constitutes net
terminal income that shall be divided as set out in this subsection. For all fiscal years beginning on or after
July 1, 2001, any amount of net terminal income received in excess of the
amount of net terminal income received during the fiscal year ending on June
30, 2001, shall be divided as set out in section ten-b of this article. The licensed racetrack’s share is in lieu of
all lottery agent commissions and is considered to cover all costs and expenses
required to be expended by the licensed racetrack in connection with video
lottery operations. The division shall
be made as follows:
(1) The commission shall
receive thirty percent of net terminal income, which shall be paid into the
state Lottery Fund as provided in section ten-a of this article;
(2) Until July 1, 2005,
fourteen percent of net terminal income at a licensed racetrack shall be
deposited in the special fund established by the licensee, and used for payment
of regular purses in addition to other amounts provided for in article
twenty-three, chapter nineteen of this code, on and after July 1, 2005, the
rate shall be seven percent of net terminal income;
(3) The county where the
video lottery terminals are located shall receive two percent of the net
terminal income: Provided, That:
(A) Beginning July 1, 1999,
and thereafter, any amount in excess of the two percent received during fiscal
year 1999 by a county in which a racetrack is located that has participated in
the West Virginia Thoroughbred Development Fund since on or before January 1,
1999 shall be divided as follows:
(i) The county shall
receive fifty percent of the excess amount; and
(ii) The municipalities of
the county shall receive fifty percent of the excess amount, said fifty percent
to be divided among the municipalities on a per capita basis as determined by
the most recent decennial United States census of population; and
(B) Beginning July 1, 1999,
and thereafter, any amount in excess of the two percent received during fiscal
year 1999 by a county in which a racetrack other than a racetrack described in
paragraph (A) of this proviso is located and where the racetrack has been
located in a municipality within the county since on or before January 1, 1999
shall be divided, if applicable, as follows:
(i) The county shall
receive fifty percent of the excess amount; and
(ii) The municipality shall
receive fifty percent of the excess amount; and
(C) This proviso shall not
affect the amount to be received under this subdivision by any other county
other that a county described in paragraph (A) or (B) of this proviso;
(4) One percent of net
terminal income shall be paid for and on behalf of all employees of the
licensed racing association by making a deposit into a special fund to be
established by the Racing Commission to be used for payment into the pension
plan for all employees of the licensed racing association;
(5) The West Virginia
Thoroughbred Development Fund created under section thirteen-b, article
twenty-three, chapter nineteen of this code and the West Virginia Greyhound
Breeding Development Fund created under section ten of said article shall
receive an equal share of a total of not less than one and one-half of one
percent of the net terminal income;
(6) The West Virginia
Racing Commission shall receive one percent of the net terminal income which
shall be deposited and used as provided in section thirteen-c, article
twenty-three, chapter nineteen of this code.
(7) A licensee shall receive
forty-six and one-half percent of net terminal income.
(8) (A) The Tourism
Promotion Fund established in section twelve, article two, chapter five-b of
this code shall receive three percent of the net terminal income: Provided,
That for the fiscal year beginning July 1, 2003, the Tourism Commission shall
transfer from the Tourism Promotion Fund $5 million of the three percent of the
net terminal income described in this section and section ten-b of this article
into the fund administered by the West Virginia Economic Development Authority
pursuant to section seven, article fifteen, chapter thirty-one of this code, $5
million into the Capitol Renovation and Improvement Fund administered by the
Department of Administration pursuant to section six, article four, chapter
five-a of this code and $5 million into the Tax Reduction and Federal Funding
Increased Compliance Fund; and
(B) Notwithstanding any
provision of paragraph (A) of this subdivision to the contrary, for each fiscal
year beginning after June 30, 2004, this three percent of net terminal income
and the three percent of net terminal income described in paragraph (B),
subdivision (8), subsection (a), section ten-b of this article shall be
distributed as provided in this paragraph as follows:
(i) 1.375 percent of the
total amount of net terminal income described in this section and in section
ten-b of this article shall be deposited into the Tourism Promotion Fund
created under section twelve, article two, chapter five-b of this code;
(ii) 0.375 percent of the
total amount of net terminal income described in this section and in section
ten-b of this article shall be deposited into the Development Office Promotion
Fund created under section three-b, article two, chapter five-b of this code;
(iii) 0.5 percent of the
total amount of net terminal income described in this section and in section
ten-b of this article shall be deposited into the Research Challenge Fund
created under section ten, article one-b, chapter eighteen-b of this code;
(iv) 0.6875 percent of the
total amount of net terminal income described in this section and in section
ten-b of this article shall be deposited into the Capitol Renovation and
Improvement Fund administered by the Department of Administration pursuant to
section six, article four, chapter five-a of this code; and
(v) 0.0625 percent of the
total amount of net terminal income described in this section and in section
ten-b of this article shall be deposited into the 2004 Capitol Complex Parking
Garage Fund administered by the Department of Administration pursuant to
section five-a, article four, chapter five-a of this code;
(9) (A) On and after July
1, 2005, seven percent of net terminal income shall be deposited into the
Workers’ Compensation Debt Reduction Fund created in section five, article
two-d, chapter twenty-three of this code:
Provided, That in any fiscal
year when the amount of money generated by this subdivision totals $11 million,
all subsequent distributions under this subdivision shall be deposited in the
special fund established by the licensee and used for the payment of regular
purses in addition to the other amounts provided in article twenty-three,
chapter nineteen of this code;
(B) The deposit of the
seven percent of net terminal income into the Worker’s Compensation Debt
Reduction Fund pursuant to this subdivision shall expire and not be imposed
with respect to these funds and shall be deposited in the special fund
established by the licensee and used for payment of regular purses in addition
to the other amounts provided in article twenty-three, chapter nineteen of this
code, on and after the first day of the month following the month in which the
Governor certifies to the Legislature that: (i)The revenue bonds issued
pursuant to article two-d, chapter twenty-three of this code, have been retired
or payment of the debt service provided for; and (ii) that an independent
certified actuary has determined that the unfunded liability of the old fund,
as defined in chapter twenty-three of this code, has been paid or provided for
in its entirety; and
(10) The remaining one
percent of net terminal income shall be deposited as follows:
(A) For the fiscal year
beginning July 1, 2003, the veterans memorial program shall receive one percent
of the net terminal income until sufficient moneys have been received to
complete the veterans memorial on the grounds of the state Capitol Complex in
Charleston, West Virginia. The moneys
shall be deposited in the State Treasury in the Division of Culture and History
special fund created under section three, article one-i, chapter twenty-nine of
this code: Provided, That only after sufficient moneys have been deposited in
the fund to complete the veterans memorial and to pay in full the annual bonded
indebtedness on the veterans memorial, not more than $20,000 of the one percent
of net terminal income provided in this subdivision shall be deposited into a
Special Revenue Fund in the State Treasury, to be known as the “John F. ‘Jack’
Bennett Fund”. The moneys in this fund
shall be expended by the Division of Veterans Affairs to provide for the
placement of markers for the graves of veterans in perpetual cemeteries in this
state. The Division of Veterans Affairs
shall promulgate legislative rules pursuant to the provisions of article three,
chapter twenty-nine-a of this code specifying the manner in which the funds are
spent, determine the ability of the surviving spouse to pay for the placement
of the marker and setting forth the standards to be used to determine the
priority in which the veterans grave markers will be placed in the event that
there are not sufficient funds to complete the placement of veterans grave
markers in any one year, or at all. Upon
payment in full of the bonded indebtedness on the veterans memorial, $100,000
of the one percent of net terminal income provided for in this subdivision
shall be deposited in the special fund in the Division of Culture and History
created under section three, article one-i, chapter twenty-nine of this code
and be expended by the Division of Culture and History to establish a West
Virginia veterans memorial archives within the Cultural Center to serve as a
repository for the documents and records pertaining to the veterans memorial,
to restore and maintain the monuments and memorial on the capitol grounds: Provided,
however, That $500,000 of the one percent of net terminal income shall be
deposited in the State Treasury in a special fund of the Department of
Administration, created under section five, article four, chapter five-a of
this code, to be used for construction and maintenance of a parking garage on the
state Capitol Complex; and the remainder of the one percent of net terminal
income shall be deposited in equal amounts in the Capitol Dome and Improvements
Fund created under section two, article four, chapter five-a of this code and
Cultural Facilities and Capitol Resources Matching Grant Program Fund created
under section three, article one of this chapter.
(B) For each fiscal year
beginning after June 30, 2004:
(i) Five hundred thousand
dollars of the one percent of net terminal income shall be deposited in the
State Treasury in a special fund of the Department of Administration, created
under section five, article four, chapter five-a of this code, to be used for
construction and maintenance of a parking garage on the state Capitol Complex;
and
(ii) The remainder of the
one percent of net terminal income and all of the one percent of net terminal
income described in paragraph (B), subdivision (9), subsection (a), section ten-b
of this article shall be distributed as follows: The net terminal income shall be deposited in
equal amounts into the Capitol Dome and Capitol Improvements Fund created under
section two, article four, chapter five-a of this code and the Cultural Facilities
and Capitol Resources Matching Grant Program Fund created under section three,
article one, chapter twenty-nine of this code until a total of $1,500,000 is
deposited into the Cultural Facilities and Capitol Resources Matching Grant
Program Fund; thereafter, the remainder shall be deposited into the Capitol
Dome and Capitol Improvements Fund.
(d) Each licensed racetrack
shall maintain in its account an amount equal to or greater than the gross
terminal income from its operation of video lottery machines, to be
electronically transferred by the commission on dates established by the
commission. Upon a licensed racetrack’s
failure to maintain this balance, the commission may disable all of a licensed
racetrack’s video lottery terminals until full payment of all amounts due is
made. Interest shall accrue on any
unpaid balance at a rate consistent with the amount charged for state income
tax delinquency under chapter eleven of this code. The interest shall begin to accrue on the
date payment is due to the commission.
(e) The commission’s
central control computer shall keep accurate records of all income generated by
each video lottery terminal. The
commission shall prepare and mail to the licensed racetrack a statement
reflecting the gross terminal income generated by the licensee’s video lottery
terminals. Each licensed racetrack shall
report to the commission any discrepancies between the commission’s statement
and each terminal’s mechanical and electronic meter readings. The licensed racetrack is solely responsible
for resolving income discrepancies between actual money collected and the
amount shown on the accounting meters or on the commission’s billing statement.
(f) Until an accounting
discrepancy is resolved in favor of the licensed racetrack, the commission may
make no credit adjustments. For any
video lottery terminal reflecting a discrepancy, the licensed racetrack shall
submit to the commission the maintenance log which includes current mechanical
meter readings and the audit ticket which contains electronic meter readings
generated by the terminal’s software. If
the meter readings and the commission’s records cannot be reconciled, final
disposition of the matter shall be determined by the commission. Any accounting discrepancies which cannot be
otherwise resolved shall be resolved in favor of the commission.
(g) Licensed racetracks
shall remit payment by mail if the electronic transfer of funds is not
operational or the commission notifies licensed racetracks that remittance by
this method is required. The licensed
racetracks shall report an amount equal to the total amount of cash inserted
into each video lottery terminal operated by a licensee, minus the total value
of game credits which are cleared from the video lottery terminal in exchange
for winning redemption tickets, and remit the amount as generated from its
terminals during the reporting period.
The remittance shall be sealed in a properly addressed and stamped
envelope and deposited in the United States mail no later than noon on the day
when the payment would otherwise be completed through electronic funds
transfer.
(h) Licensed racetracks
may, upon request, receive additional reports of play transactions for their
respective video lottery terminals and other marketing information not
considered confidential by the commission.
The commission may charge a reasonable fee for the cost of producing and
mailing any report other than the billing statements.
(i) The commission has the
right to examine all accounts, bank accounts, financial statements and records
in a licensed racetrack’s possession, under its control or in which it has an
interest and the licensed racetrack shall authorize all third parties in
possession or in control of the accounts or records to allow examination of any
of those accounts or records by the commission.
ARTICLE 25. AUTHORIZED GAMING FACILITY.
§29-25-22. Historic Resort Hotel Fund; allocation of
adjusted gross receipts; disposition of license fees.
(a) There is hereby created
a special fund in the State Treasury which shall be designated and known as the
Historic Resort Hotel Fund. Thirty-six
percent of the gross terminal income received by the commission under section
twenty of this article and thirty percent of the adjusted gross receipts
received by the commission under section twenty-one of this article shall be
deposited with the State Treasurer and placed in the Historic Resort Hotel
Fund. The fund shall be an
interest-bearing account with interest to be credited to and deposited in the
Historic Resort Hotel Fund.
(b) All expenses of the
commission shall be paid from the Historic Resort Hotel Fund, including
reimbursement of the State Police for activities performed at the request of
the commission in connection with background investigations or enforcement
activities pursuant to this article. At
no time may the commission’s expenses under this article exceed fifteen percent
of the total of the annual revenue received from the licensee under this
article, including all license fees, taxes or other amounts required to be
deposited in the Historic Resort Hotel Fund.
(c) A Historic Resort Hotel
Modernization Fund is hereby created within the Historic Resort Hotel
Fund. For all fiscal years beginning on
or after July 1, 2011, and ending with the fiscal year beginning July 1,
2016, the commission shall deduct two and one-half percent from gross
terminal income received by the commission under section twenty of this article
for the fiscal year and deposit these amounts into a separate facility
modernization account maintained within the Historic Resort Hotel Modernization
Fund for each historic resort hotel. For
each dollar expended by a historic resort hotel for video lottery or table
gaming facility modernization improvements at the historic resort hotel, having
a useful life of three or more years and placed in service after April 1, 2011,
the historic resort hotel shall receive $1 in recoupment from its facility
modernization account. For purposes of
this section, the term “video lottery or table gaming facility modernization
improvements” include acquisition of computer hardware and software,
communications and Internet access equipment, security and surveillance
equipment, video lottery terminals and other electronic equipment or other equipment
designed to modernize the facility.
(d) Notwithstanding any
other provision of this code to the contrary, on the effective date of the
amendment and reenactment of this section during the regular session of the
Legislature in 2017, all unexpended moneys remaining in the Historic Resort
Hotel Modernization Fund created by subsection (c) of this section shall be
transferred to the General Revenue Fund of the state and the Historic Resort
Hotel Modernization Fund shall be closed.
(e) Notwithstanding any
provision of subsection (c) of this section to the contrary, on the effective
date of the amendment and reenactment of this section during the regular session
of the Legislature in 2017 and thereafter, no moneys shall be available to any
historic resort hotel for recoupment of that historic resort hotel’s
expenditures for video lottery or table gaming facility modernization
improvements, regardless of when such expenditures took place or whether
unexpended balances remain in the Historic Resort Hotel Modernization Fund.
(d) (f) The balance of the Historic Resort Hotel
Fund shall become net income and shall be divided as follows:
(1) Sixty-four percent of
the Historic Resort Hotel Fund net income shall be paid into the General
Revenue Fund to be appropriated by the Legislature;
(2) Nineteen percent of the
Historic Resort Hotel Fund net income shall be paid into the State Debt
Reduction Fund established in section twenty-seven, article twenty-two-c of
this chapter to be appropriated by the Legislature;
(3) The Tourism Promotion
Fund established in section twelve, article two, chapter five-b of this code
shall receive three percent of the Historic Resort Hotel Fund net income;
(4) The county where the
gaming facility is located shall receive four percent of the Historic Resort
Hotel Fund net income;
(5) The municipality where
the gaming facility is located or the municipality closest to the gaming
facility by paved road access as of the effective date of the reenactment of
this section by the 2009 regular session of the Legislature shall receive two
and one-half percent of the Historic Resort Hotel Fund net income;
(6) The municipalities
within the county where the gaming facility is located, except for the
municipality receiving funds under subdivision (5) of this subsection, shall
receive equal shares of two and one-half percent of the Historic Resort Hotel
Fund net income;
(7) Each county commission
in the state that is not eligible to receive a distribution under subdivision
(4) of this subsection shall receive equal shares of two and one-half percent
of the Historic Resort Hotel Fund net income:
Provided, That funds
transferred to the county commission under this subdivision shall be used only
to pay regional jail expenses and the costs of infrastructure improvements and
other capital improvements; and
(8) The governing body of
each municipality in the state that is not eligible to receive a distribution
under subdivisions (5) and (6) of this subsection shall receive equal shares of
two and one-half percent of the Historic Resort Hotel Fund net income: Provided,
That funds transferred to municipalities under this subdivision shall be used
only to pay for debt reduction in municipal police and fire pension funds and
the costs of infrastructure improvements and other capital improvements.
(e) (g) Notwithstanding any provision of this
article to the contrary, all limited gaming facility license fees and license
renewal fees received by the commission pursuant to section nine of this
article shall be deposited into the Community Based Service Fund created in
section twenty-seven, article twenty-two-c of this chapter.
(f) (h) With the exception of the license fees and
license renewal fees received by the commission pursuant to section nine of
this article, all revenues received from licensees and license applicants under
this article shall be retained by the commission as reimbursement for the
licensing process.
§29-25-22b. Changes in distribution of adjusted gross
receipts and additional income; distributions from excess lottery fund.
(a) Notwithstanding any
provision of section twenty-two of this article to the contrary, for the fiscal
year beginning July 1, 2014, and each fiscal year thereafter, after payment of
the commission’s expenses pursuant to subsection (b), section twenty-two of
this article, each distribution made in subsection (c), section twenty-two of
this article from gross terminal income, and each distribution of the balance
of the Historic Resort Hotel Fund made in subsection (d) (f),
section twenty-two of this article, except subdivisions (4), (5) (6), (7) and
(8) of that subsection, shall be reduced by one hundred percent. Payments shall not be made pursuant to
section twenty-two of this article, other than those excepted by this
subsection, and are made in lieu thereof in an amount to be determined by
appropriation from the state Excess Lottery Revenue Fund.
(b) The total amount of
reductions resulting from subsection (a) of this section shall be paid into the
state Excess Lottery Revenue Fund created in section eighteen-a, article
twenty-two of this chapter.
(c) Notwithstanding any
other provision of this code to the contrary, for the fiscal year beginning
July 1, 2014, and each fiscal year thereafter, moneys deposited to the state
Excess Lottery Revenue Fund pursuant to this section shall be expended by the
lottery in accordance with appropriations.
(d) Prior to payment of any
appropriation made pursuant to this section, debt service payments payable from
the state Excess Lottery Fund shall first be paid in accordance with the
provisions of section eighteen-a, eighteen-d and eighteen-e, article twenty-two
of this chapter and in the priority as defined by subsection (c), section
eighteen-f, article twenty-two of this chapter.
(e) Notwithstanding any
other provision of this code to the contrary, after payment of debt service
from the state Excess Lottery Revenue Fund, all other distributions required by
section eighteen-a, article twenty-two of this chapter and the distributions
appropriated pursuant to this section shall be paid on a pro rata basis.
NOTE: The purpose of this bill is
to end
transfers to the Licensed Racetrack Modernization Fund; transfer funds
remaining in the Licensed Racetrack Modernization Fund and the Historic Resort
Hotel Modernization Fund to the General Revenue Fund of the state during the
fiscal year ending June 30, 2017; provide exceptions for recoupment of certain
expenditures for eligible facility modernization improvements from the Licensed
Racetrack Modernization Fund; and close the Licensed Racetrack Modernization
Fund and the Historic Resort Hotel Modernization Fund.
Strike-throughs indicate language
that would be stricken from a heading or the present law and underscoring
indicates new language that would be added.