SCS/SB 416 - Currently, 3 million dollars are transferred annually from the Gaming Commission Fund to the Veterans' Commission Capital Improvement Trust Fund. This act increases from $3 million to $7 million the annual amount transferred from the Gaming Commission Fund to the Veterans' Commission Capital Improvement Trust Fund.

Currently, the Missouri College Guarantee Fund annually receives 3 million dollars from the Gaming Commission Fund and an extra $1.5 million if the remaining net proceeds of the Fund (which is distributed to the Early Childhood Development, Education and Care Fund) exceed twenty-seven million. This act alters the distribution of the Gaming Commission Fund by annually awarding the Missouri College Guarantee Fund $4.5 million and deleting the provision which allocates the extra $1.5 million.

Currently, 3 million dollars are transferred annually from the Gaming Commission Fund to the Missouri National Guard Trust Fund. This act increases from $3 million to $4 million the annual amount transferred from the Gaming Commission Fund to the Missouri National Guard Trust Fund.

Further, the act formulates a new means of distributing the fund. Currently, the remaining net proceeds of the Gaming Commission Fund (after funding the administrative costs of the Commission and appropriations to the Compulsive Gamblers Fund and Community Neighborhood Organization Programs) are distributed concurrently to the Veterans' Commission Capital Improvement Trust Fund, the Missouri National Guard Trust Fund, and the Missouri college guarantee fund. Under the provisions of this act, the Missouri College Guarantee Fund will receive the first portion of the distribution, the Veterans' Commission Capital Improvement Trust Fund will receive the second portion of the distribution, and the Missouri National Guard Trust Fund will receive the third portion of the distribution.

Lastly, the act specifies that when the remaining net proceeds in the Gaming Commission Fund annually exceeds 27 million dollars, any amount of the remaining net proceeds which exceeds 27 million dollars shall be divided evenly between the Early Childhood Development, Education and Care Fund and the Veterans' Commission Capital Improvement Trust Fund.

This act is similar to SB 676 (2002) & SB 363 (2003).
DONALD THALHUBER