SB550 Armstead 3-10 #1

    Delegate Armstead moves to amend the committee substitute in on page twenty-five, section ten, line thirty-four, by striking the words “Licensed Racetrack Modernization Fund created by subdivision(2), subsection (b) of this section” and inserting in lieu thereof the following:

“State Road fund”

AND

    On page twenty-six, section ten, line forty-seven, by striking the entirety of subdivision (2) and inserting in lieu thereof the following:    “(2) For all fiscal years beginning on or after July 1, 2011, and ending with the fiscal year beginning July 1, 2020, the commission shall deposit such amounts as are available according to subdivision (1), subsection (b) of this section into the State Road Fund established in section one, article three of chapter seventeen of this Code, to assist in maintenance of roads and bridges.”

AND

    On page forty five, section twenty-two, line twenty-seven, following the word “account” by striking the words:

“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.” and inserting in lieu thereof the following: “the State Road Fund established in section one, article three of chapter seventeen of this Code, to carry out the mandated purposes of that fund.”

Adopted
Rejected