This bill amends sections 29-22A-10 and 29-22A-10b of the West Virginia Code, focusing on the distribution of net terminal income from racetrack video lottery operations to municipalities. A key change is the requirement for licensed racetracks to provide the commission with 30 days' advance notice of any account changes to ensure uninterrupted electronic fund transfers. Additionally, the bill modifies the commission's income limits by changing the language from "shall" to "may," allowing for more flexibility. A significant new provision establishes that municipalities in the county where a racetrack is located will receive one percent of net terminal income, which will now be allocated based on population rather than equal distribution among municipalities.

The bill further clarifies the distribution percentages for various funds, including the State Lottery Fund, the Workers Compensation Debt Reduction Fund, and the Veterans Memorial program. It emphasizes the importance of maintaining accurate records of income from video lottery terminals and introduces penalties for racetracks that do not maintain required account balances. Overall, the bill aims to enhance financial management and accountability in racetrack video lottery operations while ensuring a more equitable distribution of generated income to local municipalities.

Statutes affected:
Introduced Version: 29-22A-10, 29-22A-10b