An Act To Support Maine Veterans Nonprofit Corporations
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 8 MRSA §1036, sub-§2-C is enacted to read:
2-C. Distribution from casino of gambling revenue. A casino operator shall collect and distribute 2% of all revenue derived from gambling activities conducted by the operator to the Casino Veterans Fund as established in section 1037.
Sec. 2. 8 MRSA §1037 is enacted to read:
§ 1037. Casino Veterans Fund
1. Fund established. The Casino Veterans Fund, referred to in this section as "the fund," is established.
2. Sources of funds. The fund derives money from appropriations, allocations, donations and revenue derived from gambling activities under section 1036, subsection 2-C.
3. Purpose. The fund shall disburse grants to nonprofit corporations under Title 13-B that support or assist veterans of the Armed Forces of the United States that qualify under subsection 4.
4. Administration. The board shall appoint a 15-member governing committee to administer the fund. The governing committee established under this subsection shall adopt criteria for grants to be awarded from the fund to carry out the purpose of the fund under subsection 3, including the application process, recipient qualifications and the terms and conditions under which grants may be awarded from the fund. The expenses of administering the fund must be paid by proceeds of the fund.
5. Nonlapsing. Any funds remaining in the fund at the end of a fiscal year do not lapse but carry forward to the next fiscal year. The board may invest proceeds of the fund in an interest-bearing account.
summary
This bill establishes the Casino Veterans Fund, funded by 2% of casino gambling revenues, to award grants to nonprofit corporations that support or assist veterans of the Armed Forces of the United States.