This bill authorizes the city of Cohasset to operate a casino gaming facility regulated by the Department of Public Safety and allows the city to issue two additional on-sale intoxicating liquor licenses. The legislation establishes a framework for the casino's operation, including the creation of a joint committee to oversee contracts related to the casino, which must be approved by this committee. The committee will consist of members from the city council and the Department of Public Safety, and it is responsible for conducting background investigations on parties involved in contracts for the casino. The bill also outlines the types of games permitted, the management of gross receipts, and the powers of the commissioner of public safety to enforce regulations.

Additionally, the bill specifies that profits from the casino operation, after necessary expenses, must be allocated to property tax relief for the city. It clarifies that gaming conducted under this act is not considered a lottery or gambling as defined by existing Minnesota statutes. The act will only take effect if approved by a majority of voters in Cohasset during an election.