HB 2043 -- Licensed Gaming Revenues

Sponsor:  Cooper (120)

Beginning with Fiscal Year 2009, this bill requires any growth in
the Gaming Proceeds for Education Fund above the amount
transferred to the School District Bond Fund of the preceding
fiscal year plus the amount transferred to the Classroom Trust
Fund for the preceding fiscal year multiplied by 105% to be
transferred to the newly created Teachers' Compensation Fund.
Any money appropriated from the compensation fund must be used
only for increasing the salaries of teachers in the Missouri
public school system.  Any money remaining in the compensation
fund at the end of the biennium will not revert to the credit of
the General Revenue Fund.

Excursion gambling boat licensees must pay an additional
education allowance on all adjusted gross receipts in excess of
$40 million received from gambling games at the rate of 1% to be
paid to the Missouri Gaming Commission which will transfer the
money to the compensation fund.

The bill also repeals the maximum loss limit of $500 per
individual player per gambling excursion, and specifies that no
documentation or other form of identification will be required to
enter an area where gaming is being conducted on an excursion
gambling boat.  The number of excursion gambling boat operator
licenses issued by the commission is limited to a total of 13.
Any issuance of a new license to replace an expired, forfeited,
or revoked license must be issued to the same excursion gambling
boat or another excursion gambling boat located in the same or
adjoining city or county as the boat whose license is being
replaced.

The provisions regarding the Teachers' Compensation Fund will not
sunset.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm