An Act To Assist Nonprofit Corporations Harmed by a Casino
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 gaming revenue. In addition to the amounts distributed under subsections 2-A and 2-B, a casino operator shall collect and distribute 2% of all revenue derived from gaming activities conducted by the operator to the Casino Remedial Fund as established in section 1037.
Sec. 2. 8 MRSA §1037 is enacted to read:
§ 1037. Casino Remedial Fund
1. Fund established. The Casino Remedial Fund, referred to in this section as "the fund," is established.
2. Sources of funds. The fund may accept funds from appropriations, allocations, bond proceeds, donations and funds derived from casino gaming revenues under section 1036, subsection 2-C.
3. Purpose. The fund shall disburse a grant to a qualifying nonprofit corporation, as defined in Title 13-B, section 102, subsection 9. A qualifying nonprofit corporation under this subsection is a nonprofit corporation that makes a showing under criteria developed by the board that it has been financially harmed by the operation of a casino licensed under this chapter located within 35 miles of the nonprofit corporation.
4. Administration. The board shall administer the fund. The board shall by rule adopt criteria for issuing grants from the fund to carry out the purposes of the fund under subsection 3, including the application process, recipient qualifications and the terms and conditions under which financial harm must be shown and the amounts to be granted 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. If the funds in the fund exceed $2,000,000 at the end of a fiscal year, the excess over $2,000,000 must be transferred to the General Fund.
summary
This bill establishes the Casino Remedial Fund, and requires a casino to distribute 2% of its gaming revenues to be placed in the Casino Remedial Fund. Funds in the fund will be disbursed to a nonprofit corporation within 35 miles of a casino that can show it has been financially harmed by the casino operations.