HB 1474 -- Gambling Moneys for Schools

Sponsor:  Kreider

This bill:

(1)  Eliminates the loss limit on excursion gambling boats;

(2)  Redirects certain excursion gambling boat proceeds from
their current placement in the State School Moneys Fund for
distribution through the foundation formula; and

(3)  Substantially revises the School Building Revolving Fund,
renaming it the School Building Property Tax Relief Fund, which
will receive the redirected funds.

The redirection of funds will be accomplished over a 5-year
period, and such funds must be replaced in the State School
Moneys Fund by general revenue.

The School Building Property Tax Relief Fund will supply moneys
for grants on a 75% state/25% district basis, and grant
applications will be prioritized according to the existing 3
categories, which are based on need, plus a new category for
hold-harmless districts and one for other school districts that
do not qualify on need.  Applications that contain school safety
features receive priority within their categories.  Applications
that involve renovation of historic buildings are eligible for a
90/10 match.