Click here for Fiscal Note
Second Regular Session
Sixty-first General Assembly
LLS NO. 980522.01 DHG
SENATE BILL 98065
STATE OF COLORADO
BY SENATOR Lacy
AGR., NATURAL RESOURCES & ENERGY
A BILL FOR AN ACT
CONCERNING REGULATION OF THE STATE LOTTERY BY THE
STATE LOTTERY DIVISION IN THE DEPARTMENT OF REVENUE, AND, IN CONNECTION
THEREWITH, AUTHORIZING THE INSTALLATION OF VIDEO LOTTERY TERMINALS
UNDER THE CONTROL OF THE DIVISION, CONTINUING THE AUTHORITY OF
THE DIVISION BEYOND ITS CURRENT SUNSET DATE, AND MAKING AN APPROPRIATION.
(Note: This summary applies to this bill as introduced
and does not necessarily reflect any amendments that may be subsequently
Allows licensed casinos, class B horse racetracks, and greyhound racetracks to apply to the existing lottery commission for authority to act as lottery sales agents and have on their premises video lottery terminals (VLTs) through which patrons can participate in the state lottery. Limits the hours during which VLTs may be operated. Grants to the lottery commission and the lottery division in the department of revenue the authority to issue and revoke licenses, approve games, control the number and type of VLTs that may be used, and monitor play through a central computer system. Requires that at least 500 VLTs per location be approved for installation at licensed horse and greyhound racetracks.
Provides that VLTs are to be owned and maintained by, and operated at the expense of, either the commission or a technology provider, but assigns to the sales agent the costs of utilities, security, marketing, removal of and accounting for proceeds, validating tickets or vouchers, and maintaining and upgrading the premises on which the VLTs are located.
Allows sales agents to retain 45% of net machine income. In the case of sales agents that are parimutuel licensees (i.e., racetracks), requires that 10% be used to fund purses for live races, leaving the sales agent with a net return of 35%, and allows sales agents that are parimutuel licensees to pay parimutuel taxes to the Colorado racing commission on a monthly schedule. Distributes the remaining revenue, net of prizes and expenses, pursuant to article XXVII of the state constitution (a/k/a "GOCO"), with a portion of any excess revenue, up to $12 million, directed to the Colorado promotion fund.
Extends the authority of the lottery division until July 1, 2004.
Makes an appropriation.
Be it enacted by the General Assembly of the State of Colorado:
SECTION 1. 2435201, Colorado Revised Statutes, is amended BY THE ADDITION OF THE FOLLOWING NEW SUBSECTIONS to read:
2435201. Definitions. As used in this part 2, unless the context otherwise requires:
(4.5) "LICENSED PREMISES" MEANS:
(a) A CLASS B TRACK, AS DEFINED IN SECTION 1260102 (4), C.R.S.;
(b) A GREYHOUND TRACK, AS DEFINED IN SECTION 1260102 (10), C.R.S., AT WHICH A RACE MEET OF GREYHOUNDS, CONSISTING OF SEVENTY OR MORE RACE DAYS, IS BEING CONDUCTED OR WAS CONDUCTED DURING THE IMMEDIATELY PRECEDING TWELVE MONTHS; AND
(c) A LICENSED GAMING ESTABLISHMENT, AS DEFINED IN SECTION 1247.1103 (15), C.R.S.
(6) "NET MACHINE INCOME" MEANS THE VALUE OF ALL CURRENCY PLACED INTO A VIDEO LOTTERY TERMINAL LESS THE VALUE OF ALL PAY VOUCHERS ISSUED BY SUCH TERMINAL.
(7) "PARIMUTUEL LICENSEE" MEANS A LICENSEE, AS DEFINED IN SECTION 1260102 (17), C.R.S., THAT OWNS OR CONTROLS LICENSED PREMISES AS DEFINED IN PARAGRAPH (a) OR (b) OF SUBSECTION (4.5) OF THIS SECTION.
(8) "RETAIL GAMING LICENSEE" MEANS A LICENSEE THAT HOLDS A RETAIL GAMING LICENSE ISSUED PURSUANT TO SECTION 1247.1501 (1) (c), C.R.S.
(9) "SALES AGENT" MEANS A LOTTERY SALES AGENT LICENSED PURSUANT TO SECTION 2435206.
(10) "TECHNOLOGY PROVIDER" MEANS A PERSON WHO DESIGNS, MANUFACTURES, INSTALLS, DISTRIBUTES, OR SUPPLIES VIDEO LOTTERY TERMINALS FOR SALE OR USE IN THE STATE OF COLORADO.
(11) "VIDEO LOTTERY TERMINAL" MEANS A COMPUTERIZED VIDEO GAME MACHINE THAT, WHEN ACTIVATED BY INSERTION OF CURRENCY IN THE FORM OF BILLS, PLAYS OR SIMULATES THE PLAY OF A GAME APPROVED BY THE COMMISSION AND AWARDS CREDITS, EVIDENCED BY A PRINTED PAY VOUCHER REDEEMABLE FOR CASH, ON THE BASIS OF CHANCE. "VIDEO LOTTERY TERMINAL" DOES NOT INCLUDE ANY MACHINE OR DEVICE THAT DIRECTLY DISBURSES COINS, CASH, TOKENS, OR ANY ITEM OF VALUE OTHER THAN A PRINTED VOUCHER.
SECTION 2. Part 2 of article 35 of title 24, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read:
2435222. Video lottery terminals authorization requirements report. (1) THE COMMISSION MAY AUTHORIZE THE INSTALLATION AND OPERATION OF VIDEO LOTTERY TERMINALS BY SALES AGENTS WHO MEET ALL QUALIFICATIONS SET FORTH IN THIS SECTION AND SECTION 2435206. SUCH AUTHORIZATION SHALL BE EVIDENCED BY AN ADDITIONAL LICENSE ISSUED BY THE COMMISSION IN ACCORDANCE WITH THIS SECTION.
(2) (a) NO SALES AGENT SHALL INSTALL OR OPERATE A VIDEO LOTTERY TERMINAL UNLESS:
(I) SUCH SALES AGENT IS, AND AT ALL TIMES WITHIN THE IMMEDIATELY PRECEDING THIRTYSIX MONTHS HAS BEEN, A RETAIL GAMING LICENSEE AND THE VIDEO LOTTERY TERMINAL IS TO BE LOCATED ON LICENSED PREMISES, AS DEFINED IN SECTION 2435201 (4.5) (c), THAT ARE OWNED OR CONTROLLED BY THE SALES AGENT; OR
(II) SUCH SALES AGENT IS, AND AT ALL TIMES DURING THE IMMEDIATELY PRECEDING THREE CALENDAR YEARS HAS BEEN, A PARIMUTUEL LICENSEE AND THE VIDEO LOTTERY TERMINAL IS TO BE LOCATED ON LICENSED PREMISES, AS DEFINED IN SECTION 2435201 (4.5) (a) OR (4.5) (b), THAT ARE OWNED OR CONTROLLED BY THE SALES AGENT.
(b) NO SALES AGENT THAT IS A PARIMUTUEL LICENSEE SHALL OPERATE A VIDEO LOTTERY TERMINAL EXCEPT DURING THE PERIOD BEGINNING ONE HOUR BEFORE AND ENDING ONE HOUR AFTER THE PERIOD IN ANY DAY DURING WHICH PARIMUTUEL WAGERING IS BEING CONDUCTED AT SUCH LICENSEE=S LICENSED PREMISES.
(c) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (b) OF THIS SUBSECTION (2), NO SALES AGENT SHALL OPERATE A VIDEO LOTTERY TERMINAL UNLESS THE CENTRAL COMPUTER SYSTEM DESCRIBED IN PARAGRAPH (h) OF SUBSECTION (7) OF THIS SECTION IS FULLY FUNCTIONAL.
(d) NO SALES AGENT THAT IS A GREYHOUND PARIMUTUEL LICENSEE SHALL OPERATE A VIDEO LOTTERY TERMINAL AFTER THE LAST DAY OF ANY CALENDAR MONTH UNLESS, IN THE TWELVE CALENDAR MONTHS IMMEDIATELY PRECEDING SUCH MONTH, THERE HAVE BEEN AT LEAST THREE HUNDRED DAYS OF LIVE GREYHOUND RACING CONDUCTED IN THE STATE. FOR PURPOSES OF THIS PARAGRAPH (d), IF LIVE RACING IS CONDUCTED AT MORE THAN ONE LOCATION ON ANY GIVEN DAY, THAT DAY SHALL BE COUNTED AS A SINGLE DAY OF LIVE RACING.
(e) THE COMMISSION MAY SUSPEND OR REVOKE THE AUTHORITY GRANTED TO A SALES AGENT UNDER THIS SECTION IF THE PREMISES ON WHICH A VIDEO LOTTERY TERMINAL IS LOCATED CEASES TO QUALIFY AS A LICENSED PREMISES UNDER SECTION 2435201 (4.5) OR FOR ANY OTHER REASON FOR WHICH SUSPENSION, REVOCATION, OR DENIAL OF A LICENSE IS AUTHORIZED UNDER THIS SECTION OR SECTION 2435206.
(3) NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PERMIT THE INSTALLATION OR OPERATION OF VIDEO LOTTERY TERMINALS AT ANY LOCATION OTHER THAN A LICENSED CLASS B HORSE RACETRACK, LICENSED GREYHOUND RACETRACK, OR LICENSED GAMING ESTABLISHMENT.
(4) THE COMMISSION SHALL DETERMINE THE NUMBER OF VIDEO LOTTERY TERMINALS TO BE PLACED ON LICENSED PREMISES; EXCEPT THAT THE COMMISSION SHALL APPROVE AT LEAST FIVE HUNDRED VIDEO LOTTERY TERMINALS PER LOCATION ON LICENSED PREMISES OF A SALES AGENT THAT IS A PARIMUTUEL LICENSEE.
(5) THE DIRECTOR AND THE COMMISSION SHALL MANAGE AND REGULATE THE OPERATION OF VIDEO LOTTERY TERMINALS IN ACCORDANCE WITH THIS SECTION AND WITH THEIR POWERS AND DUTIES AS SET FORTH IN SECTIONS 2435204 AND 2435208, RESPECTIVELY. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO DIMINISH THE AUTHORITY OF THE COLORADO LIMITED GAMING CONTROL COMMISSION OR THE COLORADO RACING COMMISSION, AND SAID AGENCIES ARE AUTHORIZED AND ENCOURAGED TO COORDINATE THEIR EFFORTS WITH THOSE OF THE COMMISSION UNDER THIS SECTION.
(6) EACH VIDEO LOTTERY TERMINAL SHALL BE APPROVED IN ACCORDANCE WITH RULES ADOPTED BY THE COMMISSION.
(7) IN ADDITION TO ANY OTHER REQUIREMENTS SET FORTH IN THIS SECTION, EACH VIDEO LOTTERY TERMINAL APPROVED UNDER THIS SECTION SHALL:
(a) OFFER ONLY GAMES LICENSED AND AUTHORIZED BY THE COMMISSION;
(b) NOT HAVE ANY MEANS OF MANIPULATION BY A PLAYER OR OTHER UNAUTHORIZED PERSON THAT WOULD AFFECT THE PROBABILITY OF WINNING A GAME;
(c) HAVE ONE OR MORE MECHANISMS THAT ACCEPT CURRENCY IN THE FORM OF BILLS; EXCEPT THAT EACH SUCH MECHANISM SHALL BE DESIGNED TO PREVENT OBTAINING CREDITS WITHOUT PAYMENT BY STRINGING, SLAMMING, DRILLING, OR ANY OTHER MEANS, AND, IF SUCH ATTEMPTS INVOLVE PHYSICAL TAMPERING WITH THE TERMINAL, THE TERMINAL SHALL BE DESIGNED TO CEASE OPERATING UNTIL IT IS RESET;
(d) HAVE NONRESETTABLE METERS, HOUSED IN A READILY ACCESSIBLE BUT LOCKED AREA OF THE TERMINAL, THAT KEEP A PERMANENT RECORD OF ALL CURRENCY INSERTED INTO THE TERMINAL, ALL REFUNDS OF WINNINGS MADE BY THE TERMINAL=S PRINTER, AND ALL CREDITS PLAYED FOR AND WON BY PLAYERS AT THE TERMINAL;
(e) BE CAPABLE OF PRINTING A PAY VOUCHER THAT STATES:
(I) THE VALUE OF THE PRIZE, IF ANY, AWARDED TO THE PLAYER AT THE COMPLETION OF EACH GAME;
(II) THE TIME OF DAY, IN A TWENTYFOURHOUR FORMAT, SHOWING HOURS AND MINUTES;
(III) THE DATE;
(IV) THE TERMINAL=S SERIAL NUMBER;
(V) THE SEQUENTIAL NUMBER OF THE PAY VOUCHER;
(VI) AN ENCRYPTED VALIDATION NUMBER FROM WHICH THE VALIDITY OF THE PRIZE MAY BE DETERMINED; AND
(VII) A NUMBER, GENERATED INDEPENDENTLY OF THE COMPUTER SYSTEM DESCRIBED IN PARAGRAPH (h) OF THIS SUBSECTION (7), TO VERIFY THE AUTHENTICITY OF THE VOUCHER;
(f) HAVE ACCOUNTING SOFTWARE THAT KEEPS AN ELECTRONIC RECORD THAT INCLUDES, BUT IS NOT LIMITED TO, THE FOLLOWING:
(I) THE TOTAL AMOUNT OF CASH INSERTED INTO THE TERMINAL;
(II) THE VALUE OF WINNING TICKETS CLAIMED BY PLAYERS;
(III) THE TOTAL VIDEO LOTTERY TERMINAL CREDITS PLAYED AND AWARDED IN A VIDEO LOTTERY TERMINAL GAME; AND
(IV) THE PAYBACK PERCENTAGE CREDITED TO PLAYERS OF EACH VIDEO LOTTERY TERMINAL GAME;
(g) LIMIT, IN ACCORDANCE WITH RULES OF THE COMMISSION, THE AGGREGATE AMOUNT OF CASH AND CREDITS THAT ANY PLAYER OF A VIDEO LOTTERY TERMINAL GAME CAN WAGER ON ANY CHANCE FOR A PRIZE; AND
(h) BE CONNECTED TO AND MONITORED BY A CENTRAL COMPUTER SYSTEM UNDER THE CONTROL OF THE DIVISION. PROCUREMENT OF THE NECESSARY HARDWARE, SOFTWARE, AND SERVICES FOR THE SYSTEM SHALL BE EFFECTED UNDER APPLICABLE STATE PURCHASING RULES. THE DIVISION SHALL USE ITS BEST EFFORTS TO MEET A TARGET DATE OF DECEMBER 1, 1998, FOR INSTALLATION AND OPERATIONAL READINESS OF THE SYSTEM.
(8) EACH SALES AGENT OPERATING A VIDEO LOTTERY TERMINAL PURSUANT TO THIS SECTION SHALL MAINTAIN A BOOTH OR WINDOW ON THE LICENSED PREMISES FOR THE COLLECTION OF VOUCHERS AND FOR THE ISSUANCE OF PRIZES IN THE FORM OF CASH IN EXCHANGE FOR WINNING VOUCHERS. THE BOOTH OR WINDOW SHALL BE MAINTAINED AT ALL TIMES DURING WHICH A VIDEO LOTTERY TERMINAL IS IN OPERATION ON THE LICENSED PREMISES.
(9) THE COMMISSION IS AUTHORIZED TO ADOPT RULES AS NECESSARY TO IMPLEMENT THIS SECTION AND TO MONITOR AND REGULATE THE OPERATION OF VIDEO LOTTERY TERMINALS, AND IS SPECIFICALLY AUTHORIZED TO SUSPEND OR REVOKE THE LICENSE OF, OR FINE OR ADMONISH, ANY LICENSEE FOUND BY THE COMMISSION TO HAVE ALLOWED AN UNDERAGE PERSON TO ENTER A LICENSED PREMISES FOR THE PURPOSE OF USING A VIDEO LOTTERY TERMINAL.
(10) THE COMMISSION SHALL EXAMINE AND APPROVE PROTOTYPES OF VIDEO LOTTERY TERMINALS, ASSOCIATED EQUIPMENT, AND SOFTWARE OF TECHNOLOGY PROVIDERS BEFORE SUCH TERMINALS ARE PLACED IN OPERATION. THE COMMISSION SHALL REQUIRE THAT TECHNOLOGY PROVIDERS SEEKING EXAMINATION AND APPROVAL PAY THE ANTICIPATED ACTUAL COSTS OF THE EXAMINATION IN ADVANCE. UPON COMPLETION OF THE EXAMINATION, THE COMMISSION SHALL REFUND ANY OVERPAYMENTS OR UNINCURRED CHARGES ASSOCIATED WITH THE EXAMINATION AND SHALL COLLECT ANY AMOUNTS NECESSARY TO REIMBURSE THE COMMISSION FOR UNDERPAYMENTS OF ACTUAL COSTS ASSOCIATED WITH THE EXAMINATION.
(11) ALL EXPENSES NECESSARY TO PURCHASE OR LEASE, INSTALL, MAINTAIN, AND OPERATE VIDEO LOTTERY TERMINALS, OTHER THAN COSTS ASSOCIATED WITH UTILITIES, SECURITY, MARKETING, REMOVAL OF CURRENCY FROM VIDEO LOTTERY TERMINALS, ACCOUNTING FOR AND DEPOSITING RECEIPTS, TICKET OR VOUCHER VALIDATION, FACILITIES MAINTENANCE, AND UPGRADING LICENSED PREMISES TO ACCOMMODATE THE TERMINALS, SHALL BE BORNE BY THE COMMISSION OR BY A TECHNOLOGY PROVIDER. MARKETING AND ADVERTISING RELATED TO VIDEO LOTTERY TERMINALS SHALL BE SUBJECT TO THE APPROVAL OF THE COMMISSION. NOTHING IN THIS SUBSECTION (11) SHALL BE CONSTRUED TO PRECLUDE THE COMMISSION FROM ADVERTISING OR MARKETING VIDEO LOTTERY TERMINALS.
(12) (a) COMPENSATION TO BE PAID TO SALES AGENTS THAT ARE PARIMUTUEL LICENSEES OR RETAIL GAMING LICENSEES SHALL BE FORTYFIVE PERCENT OF NET MACHINE INCOME, WHICH IS THE AMOUNT THAT THE GENERAL ASSEMBLY HAS DETERMINED IS REQUIRED TO ASSURE THAT SALES AGENTS CONSIDERING INSTALLING VIDEO LOTTERY TERMINALS WILL HAVE AN ADEQUATE INCENTIVE TO DO SO; EXCEPT THAT, IN THE CASE OF A SALES AGENT THAT IS A PARIMUTUEL LICENSEE, TEN PERCENT OF THE ANNUAL NET MACHINE INCOME SHALL BE HELD BY THE SALES AGENT IN A SEPARATE BANK ACCOUNT AND USED BY THE SALES AGENT SOLELY TO FUND PURSES FOR THE LIVE RACES AT THE LICENSED PREMISES. OF SUCH FUNDING FOR PURSES, NO MORE THAN TWENTY PERCENT ANNUALLY SHALL BE USED TO FUND PURSES FOR STAKES RACES.
(b) FOR ADMINISTRATIVE CONVENIENCE, SALES AGENTS THAT ARE PARIMUTUEL LICENSEES MAY PAY TO THE RACING COMMISSION ANY PARIMUTUEL TAX REQUIRED BY ARTICLE 60 OF TITLE 12, C.R.S., ON A MONTHLY SCHEDULE.
(13) OF THE PROCEEDS RECEIVED FROM THE OPERATION OF VIDEO LOTTERY TERMINALS, THE DIVISION SHALL FIRST REMIT TO SALES AGENTS THE COMPENSATION SET FORTH IN SUBSECTION (12) OF THIS SECTION AND PAY OTHER EXPENSES. THE BALANCE OF SUCH PROCEEDS, NET OF PRIZES AND EXPENSES, SHALL BE DISTRIBUTED IN ACCORDANCE WITH SECTION 3 OF ARTICLE XXVII OF THE STATE CONSTITUTION.
(14) THE SUPERVISORY FUNCTIONS OF THE DIVISION PURSUANT TO THIS SECTION SHALL BE SUBJECT TO TERMINATION AT THE TIME OF THE TERMINATION OF THE DIVISION AS PROVIDED IN SECTION 2435218. THE EFFECTS OF THE IMPLEMENTATION OF THIS SECTION SHALL BE INCLUDED IN THE STATE AUDITOR=S ANALYSIS AND EVALUATION PURSUANT TO SAID SECTION.
SECTION 3. 2434104 (34), Colorado Revised Statutes, 1988 Repl. Vol., as amended, is amended BY THE ADDITION OF A NEW PARAGRAPH to read:
2434104. General assembly review of regulatory agencies and functions for termination, continuation, or reestablishment. (34) The following agencies, functions, or both, shall terminate on July 1, 2004:
(g) THE STATE LOTTERY DIVISION IN THE DEPARTMENT OF REVENUE.
SECTION 4. 2435218 (1) (a) and (1) (b), Colorado Revised Statutes, are amended to read:
2435218. Division subject
to termination. (1) (a) Unless
continued or reestablished by the general assembly acting by bill,
the division shall terminate on July 1,
(b) The state auditor shall conduct an
analysis and evaluation of the performance of the division. The
analysis and evaluation shall be completed by January 1,
2003. The state auditor shall submit a written report, and such
supporting materials as may be requested, to the general assembly
no later than January 15, 1999
SECTION 5. 3360104 (1) (c) and (2), Colorado Revised Statutes, are amended to read:
3360104. Distribution of net lottery proceeds beginning first quarter of fiscal year 199899. (1) For the first quarter of fiscal year 199899 and for each quarter thereafter, the state treasurer shall distribute net lottery proceeds as follows:
(c) (I) All remaining net lottery
proceeds in trust to the trust fund board; except that, in any
state fiscal year in which the portion of net lottery proceeds
THAT would otherwise be given in trust to the trust fund board
exceeds the adjusted amount of
thirtyfive million dollars, as
determined by the state treasurer
ADJUSTED in accordance with subsection (2) of this section, the
net lottery proceeds in excess of such adjusted amount shall be
allocated to the general fund.
(II) OF ANY NET LOTTERY PROCEEDS ALLOCATED TO THE GENERAL FUND PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH (c), THE FIRST TWELVE MILLION DOLLARS, ADJUSTED IN ACCORDANCE WITH SUBSECTION (2) OF THIS SECTION, SHALL BE ANNUALLY APPROPRIATED TO THE COLORADO PROMOTION FUND CREATED IN SECTION 24321306, C.R.S.
(2) Beginning with the first quarter of
fiscal year 199899 and each fiscal year thereafter, the
AMOUNTS of thirtyfive million dollars AND TWELVE MILLION
DOLLARS REFERRED TO IN SUBPARAGRAPHS (I) AND (II) OF PARAGRAPH
(c) OF SUBSECTION (1) OF THIS SECTION, RESPECTIVELY, shall be
adjusted annually based on the decrease or increase, if any, in
the consumer price index for the Denver
DENVERBOULDER CONSOLIDATED metropolitan STATISTICAL area,
for the preceding calendar year reported by the United States
bureau of labor statistics, or its successor index. Such adjustment
shall reflect changes, if any, in such index from the actual consumer
price index for the Denver
DENVERBOULDER CONSOLIDATED metropolitan STATISTICAL area,
for the calendar year 1992 WITH RESPECT TO THE THIRTYFIVE
MILLION DOLLAR BASE AMOUNT AND FOR THE CALENDAR YEAR 1998 WITH
RESPECT TO THE TWELVE MILLION DOLLAR BASE AMOUNT.
SECTION 6. 1247.1701 (4) (a), Colorado Revised Statutes, is amended to read:
1247.1701. Limited gaming
fund. (4) (a) At the end
of each fiscal year, the state treasurer shall distribute the
balance remaining in the limited gaming fund in accordance with
the provisions of section 9 (5) (b) (II) of article XVIII of the
state constitution; except that fortynine and eighttenths
percent shall be transferred to the general fund of this state
and twotenths of one percent shall be transferred to the
promotion fund created in section 24321306, C.R.S.
SECTION 7. 24321303 (2), Colorado Revised Statutes, is amended to read:
24321303. Definitions. As used in this part 13, unless the context otherwise requires:
(2) "Fund" means the Colorado
promotion fund created in section 24321306.
SECTION 8. The introductory portion to 24321306 (1), Colorado Revised Statutes, is amended to read:
24321306. Colorado promotion
fund creation nature of fund.
(1) There is hereby created a fund to be known as
promotion fund, which shall be administered by the board and which
shall consist of:
SECTION 9. 2924110 (1) (f), Colorado Revised Statutes, is amended to read:
2924110. Collection of
contributions amount custody and disbursement.
(1) (f) (I) Any business
THAT is licensed pursuant to section 1247.1501, C.R.S.,
shall receive a credit against the contribution imposed pursuant
to this section for an amount equal to the amount of any transfer
to the Colorado tourism
promotion fund pursuant to section 1247.1701 (4),
C.R.S., which is attributable to such business.
(II) Notwithstanding any other provision
of this article, a business shall not be entitled to a refund
of amounts transferred to the Colorado
promotion fund pursuant to section 1247.1701 (4),
SECTION 10. Appropriation. In addition to any other appropriation, there is hereby appropriated, out of any moneys in the lottery fund created in section 2435210, Colorado Revised Statutes, not otherwise appropriated, to the department of revenue, for allocation to the state lottery division, for the fiscal year beginning July 1, 1998, the sum of twentyseven million one hundred thousand dollars ($27,100,000) and 13.5 FTE, or so much thereof as may be necessary, for the implementation of this act.
SECTION 11. Safety clause. The general assembly hereby finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety.