SB 505 Modifies the schedule of transfers from the Gaming Commission Fund
Sponsor: Munzlinger
LR Number: 4190S.01I Fiscal Note available
Committee: Ways and Means
Last Action: 1/23/2014 - Hearing Conducted S Ways and Means Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2014

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Current Bill Summary


SB 505 - Currently, certain revenues from excursion gambling boats are deposited into the Gaming Commission Fund. As revenues come into the fund, periodic transfers are made out of the fund. After the first $500,000 is made available to community neighborhood organization programs for homeless and violence prevention, moneys from the Gaming Commission Fund are transferred to three other funds in a certain order. The first $5 million is transferred to the Access Missouri Financial Assistance Fund. The second $3 million is transferred to the Veterans' Commission Capital Improvement Trust Fund. The third $4 million is transferred to the Missouri National Guard Trust Fund. The remaining amounts are transferred to the Veteran's Commission Capital Improvement Trust Fund.

This act requires transfers from the Gaming Commission Fund to the other three funds be in equal amounts. Once a fund has met its cap, transfers will be in equal amounts to the remaining two funds. Once the Access Missouri Financial Assistance Fund and the Missouri National Guard Trust Fund have both meet their caps, the total amount of all subsequent transfers will be into the Veteran's Commission Capital Improvement Trust Fund.

This act is identical to HB 1102 (2014).

MIKE HAMMANN