An Act to revise percentages regarding certain municipal proceeds of gaming revenues.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. That § 42-7B-48.1 be AMENDED:
42-7B-48.1.
Disbursements
each year
from the
Gaming Commission fund shall
gaming commission fund must
be as set forth in § 42-7B-48
until
such time as
the net municipal proceeds paid to the City of Deadwood equals
equal
six million eight hundred thousand dollars
for each year,
and after payment of commission expenses pursuant to subdivision
42-7B-48(2),
and after payment of one hundred thousand dollars to the
State Historical Preservation Grant and Loan fund
historical preservation loan and grant fund
pursuant to subdivision 42-7B-48(3).
Thereafter, all remaining funds
shall
must be
distributed as follows:
(1) SeventyTen
percent to the
state
general fund;
(2) Ten percent to
be distributed to
municipalities in Lawrence County, except the City of Deadwood, pro
rata according to their population;
(3) Ten percent to
be distributed to
school districts, pro rata based upon the previous year's average
daily membership, located in whole or in part, in Lawrence County.
For any school district located
only
partly in Lawrence County, only
that
the
portion of the district's average daily attendance
which
that
represents students residing in Lawrence County
shall
may be
considered in calculating the proration required by this subdivision;
and
(4) TenSeventy
percent to the City of Deadwood for deposit in the historic
restoration and preservation fund.
Underscores indicate new language.
Overstrikes
indicate deleted language.