The bill amends the Lawful Internet Gaming Act (2019 PA 152) by modifying the allocation of taxes imposed under section 14. Specifically, it increases the percentage allocated to the state from sixty-five percent to sixty-six percent and decreases the allocation to the Michigan agriculture equine industry development fund from five percent to four percent. Additionally, the bill establishes new thresholds for the amount allocated to the equine fund, specifying that if the four percent exceeds certain amounts in the fiscal years 2026 through 2028, the excess must be deposited into a designated fund. The specified amounts for these fiscal years are $9 million for 2026, $12 million for 2027, and $15 million for 2028 and thereafter.

Furthermore, the bill introduces a provision that ensures the city where the internet gaming operator's casino is located receives a minimum combined amount of $183 million from various sources, including allocations from the gaming tax and existing development agreements. If the total received falls short of this amount, the board is required to distribute the difference to the city. The bill also clarifies that certain payments are excluded from these calculations, and it stipulates that the total amount received by the city cannot exceed 55% of the total tax revenue collected under section 14 for the state fiscal year. The enactment of this bill is contingent upon the passage of related legislation.

Statutes affected:
Substitute (H-1): 432.315
House Introduced Bill: 432.315
As Passed by the House: 432.315