§ 1901.1. Repayments to General Fund.

172 words·~1 min read·/pa/title-4/chapter-19/1901-1

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(a)Establishment of repayment schedule.--

(1)No later than December 1, 2017, the board, in consultation with all licensed gaming entities, shall establish a schedule governing the repayment by licensed gaming entities of loans provided under section 1901 (relating to appropriations).

(2)The repayment of loans provided under section 1901 by licensed gaming entities shall begin no later than January 1, 2018.

(3)The repayment schedule shall, at a minimum:

(i)Specify the dates upon which the repayments shall be due. Payments may be required on a quarterly, semiannual or annual basis.

(ii)Assess each slot machine licensee's costs for repayment of loans under section 1901 in an amount that is proportional to each slot machine licensee's gross terminal revenue.

(iii)Result in the total amounts loaned under section 1901 being repaid by June 30, 2019.

(b)Deposit.-- Payments received under subsection

(a)shall be deposited into the General Fund.

04c1901.1v

(Nov. 1, 2006, P.L.1243, No.135, eff. imd.; Oct. 30, 2017, P.L.419, No.42, eff. imd.)

04c1901.2s