SCS/HB 1864 - This act directs revenue derived from the loss limit repeal and the imposition of an education allowance to the newly created Educational Opportunities for Missouri's Children Fund. Upon appropriation, the first twenty-five million dollars in the fund will be allocated to the Department of Elementary and Secondary Education for the A+ Schools program, provided that such program is expanded to all Missouri high schools. The remaining moneys in the fund will be allocated equally among the Early Childhood Development, Education and Care Fund, and the First Steps program. The act renders the following alterations to the state's gaming policy:
• Repeals the maximum loss limit of five hundred dollars per individual player per gambling excursion;
• Institutes a cap of sixteen licenses to operate excursion gambling boats in the state;
• Imposes an education allowance of one percent on adjusted gross receipts in excess of forty million dollars for gaming licensees;
• States that no documentation or other form of identification, other than that which may be required by a home dock city or county, will be required to enter an area where gambling is being conducted; and
• Increases the annual allocation of revenues, from the gaming commission fund, to the Veteran's Commission Capital Improvement Trust Fund by four million dollars.
Under current law, operators of excursion gambling boats are required to deposit cashed checks within twenty-four hours. This act requires such checks to be deposited on the next business day of the financial institution.
JASON ZAMKUS