The "I-95 Economic and Education Stimulus Act" proposes the establishment of the South Carolina Gaming Commission, which will be responsible for awarding casino licenses in specific counties along Interstate 95 (I-95). The bill acknowledges that while casino gaming may not suit the economic profiles of most South Carolina communities, it could provide significant benefits to rural and impoverished school districts in the designated areas. The act emphasizes the importance of regulating casino gaming within the state to ensure that it operates under strict guidelines aimed at enhancing educational opportunities for children in these regions.

The legislation outlines the structure and responsibilities of the South Carolina Gaming Commission, which will consist of three members appointed by state leaders. It details the qualifications for commission members, the licensing process, and the requirements for applicants, including conducting an economic impact study and background checks. The bill also establishes a monthly privilege tax of fifteen percent on the adjusted gross gaming revenue of licensees, mandates electronic submission of tax returns, and specifies the use of tax proceeds for the general fund. The commission will ensure compliance with state laws, maintain confidentiality regarding licensing information, and operate without relying on the state general fund for its expenses. The act will take effect upon the Governor's approval.