General Laws of Massachusetts - Chapter 23K The Massachusetts Gaming Commission Se Fee or Tax; Penalties. - Section 59 Gaming Revenue Fund

  Section 59. There shall be established and set up on the books of the commonwealth a Gaming Revenue Fund which shall receive revenues collected from the tax on gross gaming revenue received from gaming licensees. The commission shall be the trustee of the fund and shall transfer monies in the fund as follows:

  (1) 100 per cent of the revenue received from a category 2 licensee shall be transferred to the Gaming Local Aid Fund established in section 63; and

  (2) 100 per cent of the revenue received from a category 1 licensee shall be transferred as follows:

  (a) 2 per cent of revenues to the Massachusetts cultural council of which one-quarter of the revenues received shall be dedicated to the organization support program of the Massachusetts cultural council and three-quarters of revenues shall be dedicated to support not-for-profit and municipally-owned performing arts centers impacted as a result of the operation of gaming facilities; provided, however, that funds dedicated to such performing arts centers shall be to subsidize fees paid to touring shows or artists; and provided further, that funding shall be appropriated through a competitive grant process to be developed and administered by the Massachusetts cultural council;

  (b) 1 per cent to the Massachusetts Tourism Fund to fund tourist promotion agencies under clause (c) of section 35J of chapter 10;

  (c) 6.5 per cent to the Community Mitigation Fund established in section 61;

  (d) 4.5 per cent to the Local Capital Projects Fund, established in section 2EEEE of chapter 29;

  (e) 20 per cent to the Gaming Local Aid Fund, established in section 63;

[ Subclause (f) of clause (2) effective until February 15, 2013. For text effective February 15, 2013, see below.]

  (f) 10 per cent to the Commonwealth Stabilization Fund established in section 2H of chapter 29; provided, however, that in any fiscal year in which the amount appropriated in line-item 7061-0008 of the general appropriation act, paid from the General Fund, or the amount of unrestricted general government aid paid from the General Fund, including lottery aid distribution to cities and towns as paid from the General Fund under clause (c) of the second paragraph of section 35 of said chapter 10 and the amount of additional funds distributed to cities and towns as additional assistance paid from the General Fund, is less than that of the previous fiscal year, up to 1/2 of the funds otherwise directed to the Commonwealth Stabilization Fund under this section, up to an amount equal to the deficiency between said appropriations for the current and previous fiscal years, shall be transferred to the Gaming Local Aid Fund in addition to the 25 per cent under clause (e);

[ Subclause (f) of clause (2) as amended by 2013, 3, Sec. 4 effective February 15, 2013. For text effective until February 15, 2013, see above.]

  (f) 10 per cent to the Commonwealth Stabilization Fund established in section 2H of chapter 29; provided, however, that in any fiscal year in which the amount appropriated in line-item 7061-0008 of the general appropriation act, paid from the General Fund, or the amount of unrestricted general government aid paid from the General Fund, including lottery aid distribution to cities and towns as paid from the General Fund under clause (c) of the second paragraph of section 35 of said chapter 10 and the amount of additional funds distributed to cities and towns as additional assistance paid from the General Fund, is less than that of the previous fiscal year, up to 1/2 of the funds otherwise directed to the Commonwealth Stabilization Fund under this section, up to an amount equal to the deficiency between said appropriations for the current and previous fiscal years, shall be transferred to the Gaming Local Aid Fund in addition to the 20 per cent under subclause (e);

  (g) 14 per cent to the Education Fund established in section 64;

  (h) 9.5 per cent to the Gaming Economic Development Fund established in section 2DDDD of said chapter 29;

  (i) 10 per cent shall be used for debt reduction through a program of debt defeasance and accelerated debt payments; provided, however, that this program shall be developed jointly by the state treasurer and the secretary of administration and finance and shall be implemented in compliance with state finance law; provided further, that this program shall prioritize the reduction of risk in the commonwealth's debt portfolio, but may also include payments to decrease the unfunded pension liability of the Pension Reserves Investment Trust Fund; and provided further, that the secretary of administration and finance and the state treasurer shall provide a written description of the program to the finance advisory board established in section 97 of chapter 6 for the board's review and comment before the program is implemented and shall file a copy of that description with the house and senate committees on ways and means and the house and senate committees on bonding, capital expenditures and state assets when it is submitted to the finance advisory board;

  (j) 15 per cent to the Transportation Infrastructure and Development Fund established in section 62;

  (k) 5 per cent to the Public Health Trust Fund established in section 58; and

  (l) 2.5 per cent to the Race Horse Development Fund established in section 60.

Section:  Previous  52  53  54  55  56  57  58  59  60  61  62  63  64  65  66  Next

Last modified: September 11, 2015