Amended
IN
Senate
January 09, 2008 |
Introduced by
Senator
Florez |
February 23, 2007 |
This bill would provide that, with respect to any tribal-state gaming compact ratified by the Legislature that requires the signatory tribe to pay an amount to the General Fund based on the operation of gaming devices by the tribe, the tribe may prepay all or any portion of that amount before the amount becomes due. The bill would require that a tribe that prepays an obligation pursuant to these provisions receive a credit in the amount of that prepayment for the following fiscal year, and would allow any amount not used in that fiscal year to be carried over to future fiscal years.
This bill would declare that it is to take effect immediately as an urgency statute.
(a)With respect to any tribal-state gaming compact ratified by the Legislature that requires the signatory tribe to pay an amount to the General Fund based on the operation of gaming devices by the tribe, the tribe may prepay all or any portion of that amount before the amount becomes due under the terms of the tribal-state gaming compact. Any prepayment shall be deposited in the General Fund and shall be available for appropriation by the Legislature commencing with the fiscal year in which the deposit is made.
(b)A tribe that prepays an obligation pursuant to subdivision (a) shall receive a credit in the amount of that prepayment. The credit may be applied to any amount required to be paid by the tribe to the General Fund for the following
fiscal year based on the operation of gaming devices by the tribe. Any amount of the credit not used by the tribe in that fiscal year may be carried over to future fiscal years.
This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:
In order to ensure that the state receives revenue contributions from the expanded operation of gaming devices authorized by tribal-state gaming compacts as quickly as possible, it is necessary that this act take effect immediately.