The bill amends the Lawful Sports Betting Act by modifying the allocation of taxes imposed under section 14(1). It specifies that 30% of the tax revenue will be directed to the city where the sports betting operator's casino is located, with funds earmarked for various local initiatives, including public safety programs, neighborhood development, and road construction. Additionally, 65% of the revenue will be allocated to the state, while 5% will go to the Michigan agriculture equine industry development fund, with provisions for excess funds beyond $3 million to be redirected to another fund.

Furthermore, the bill establishes the internet sports betting fund within the state treasury, detailing how the fund will be managed and the purposes for which it can be used. The state treasurer will oversee the fund's investments and expenditures, which include costs for regulating internet sports betting, contributions to the compulsive gaming prevention fund, and financial support for the Christopher R. Slezak first responder presumed coverage fund, capped at $7 million annually. The bill also introduces a new allocation of $1 million to the Michigan strategic fund for distribution to federally recognized tribal governments for essential services, and it defines "federally recognized tribal government" for clarity in the context of fund distribution.

Statutes affected:
Substitute (H-1): 432.415, 432.416
House Introduced Bill: 432.415, 432.416
As Passed by the House: 432.415, 432.416