G. One and one-half percent of the total gross slot machine income must be forwarded by the board to the board of trustees of the Maine Community College System to be applied by the board of trustees to fund its scholarships program under Title 20-A, section 12716, subsection 1;

H. Four percent of the total gross slot machine income must be forwarded by the board to the Treasurer of State, who shall credit the money to the Fund to Encourage Racing at Maine's Commercial Tracks, established in section 299; however, the payment required by this paragraph is terminated when all commercial tracks have obtained a license to operate slot machines in accordance with this chapter; and

I. Two percent of the total gross slot machine income must be forwarded by the board to the Treasurer of State, who shall credit the money to the Fund to Stabilize Off-track Betting Facilities established by section 300, as long as a facility has conducted off-track wagering operations for a minimum of 250 days during the preceding 12-month period in which the first payment to the fund is required. After 48 months of receiving an allocation of the total gross slot machine income from a licensed operator, the percent of total slot machine income forwarded to the Fund to Stabilize Off-track Betting Facilities is reduced to 1% with the remaining 1% to be forwarded to the State in accordance with subsection 1; and

J. One percent of the total gross slot machine income must be forwarded directly to the municipality in which the slot machines are located.

SUMMARY

This bill repeals the laws that establish the Fund to Stabilize Off-track Betting Facilities and require that 2% of the total gross slot machine income be deposited in this fund. The bill provides that consistent with the intent of the Maine Revised Statutes, Title 8, section 1036, subsection 2, paragraph I, half of the money that otherwise would be deposited in the Fund to Stabilize Off-track Betting Facilities is deposited in