| SB 0475 | Creates the "Video Gaming Machine Network" to generate revenue for higher education |
| Sponsor: | Jacob | |||
| LR Number: | 1662S.01I | Fiscal Note: | 1662-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 04/01/03 - Voted Do Pass S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 475 - This act authorizes the Missouri Lottery Commission to create a statewide "Video Gaming Machine Network". Certain types of video gambling machines are authorized in licensed locations. The machines will be electronically linked to a main computer which will audit the functioning of the devices and provide transfers of funds to the machines.
The payback value of one credit wagered, determined over time, shall be a minimum of sixty percent but shall not exceed a maximum of eighty percent.
Revenues generated by the "Video Gaming Machine Network" will be placed in the "Higher Education Trust Fund", also created by this act, for the purpose of creating reserves for capital improvements to higher education facilities and providing grants for student education. A portion of this fund shall offset any decline in lottery sales.
A license is required for manufacturers, distributers and operators of such video games as well as for each machine and each premises containing the machines. Licensed distributors must have at least two years experience with distribution of video gaming machines. Licensed operators, who place machines in licensed premises, must have at least two years experience with operating video gaming machines.
Licensed premises include those where the sale and consumption of alcohol is permitted and truck stops that meet a threshold of 250,000 gallons of petroleum sold in each of the prior two years, as well as other locations approved by the commission. No license issued to a licensee shall be transferrable without the consent of the commission. A licensed premise shall provide the operator a surety bond of a certain amount not less than five thousand dollars.
A licensed premise may receive a maximum of two machines for the first year. After one year the commission may authorize up to two additional machines per year, not to exceed fifteen total machines.
The Director of the Lottery Commission shall set administrative rules for licensing of machine locations, distributors, manufacturers, and parts suppliers. The Commission will contract with these licensed entities on an annual basis.
Tampering with games or machines is a Class D felony. After the effective date of this act, it shall be illegal to operate any video device that can simulate a game played on a licensed video gaming machine.
This act is identical to SCS/SB 1222 (2002).
JIM ERTLE