The bill amends sections 29-22A-10 and 29-22A-10b of the Code of West Virginia, focusing on the management and distribution of video lottery net terminal income to municipalities. Key changes include a requirement for licensed racetracks to provide the commission with 30 days' advance notice for any proposed account changes, ensuring uninterrupted electronic fund transfers. The language regarding the commission's ability to receive gross terminal income is modified from "shall" to "may," providing more flexibility in income limits. A new provision is introduced that mandates municipalities in the county to receive one percent of net terminal income, which will be allocated based on the most recent census data.

Additionally, the bill clarifies the distribution percentages for various funds, specifying that the commission will receive 30 percent and licensed racetracks will receive 46.5 percent of the net terminal income. It outlines the allocation of funds to entities such as the Tourism Promotion Fund and the Workers Compensation Debt Reduction Fund, while emphasizing the importance of accurate record-keeping for income generated by video lottery terminals. The bill aims to enhance financial support for municipalities involved in video lottery operations and ensures compliance with financial protocols, replacing previous provisions that did not consider population in the distribution of funds.

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