6.__Termination of payments.__Payments from the fund to off- track betting facilities must be discontinued 48 months after the first distribution of payments pursuant to subsection 4.

7.__Repeal.__This section is repealed 6 months after the date the board terminates financial assistance payments pursuant to subsection 6.

Sec. 3. 8 MRSA §1036, sub-§2, ¶I, as enacted by PL 2003, c. 687, Pt. A, §5 and affected by Pt. B, §11, is repealed.

Sec. 4. 8 MRSA §1036, sub-§2, ¶J, as enacted by PL 2003, c. 687, Pt. A, §5 and affected by Pt. B, §11, is amended to read:

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

Sec. 5. 8 MRSA §1036, sub-§2, ¶K is enacted to read:

K.__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 Harness Racing Stabilization Fund established in section 300-A to provide financial assistance payments to qualified off-track betting facilities.__Once payments to off-track betting facilities have terminated pursuant to section 300-A, subsection 6, 2% of the total gross slot machine income must be forwarded to the Treasurer of State, who shall credit the money to the elderly low-cost drug program established in Title 22, section 254.

SUMMARY

Under current law, 2% of total gross slot machine income is deposited in the Fund to Stabilize Off-track Betting Facilities for the distribution of revenue to off-track betting facilities.