Michigan Laws 432.316 – Internet gaming fund
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Terms Used In Michigan Laws 432.316
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Michigan gaming control board created under section 4 of the Michigan Gaming Control and Revenue Act, 1996 IL 1, MCL 432. See Michigan Laws 432.303
- Fund: means the internet gaming fund created under section 16. See Michigan Laws 432.303
- Internet: means the international computer network of interoperable packet-switched data networks, inclusive of such additional technological platforms as mobile, satellite, and other electronic distribution channels. See Michigan Laws 432.303
- Internet gaming: means operating, conducting, or offering for play an internet game. See Michigan Laws 432.303
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) The internet gaming fund is created in the state treasury.
(2) The state treasurer may receive money or other assets required to be paid into the fund under this act or from any other source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(3) The board is the administrator of the fund for auditing purposes.
(4) Except as otherwise provided in section 15(2), the board shall expend money from the fund, on appropriation, for all of the following:
(a) The costs incurred by the board in regulating and enforcing internet gaming under this act.
(b) The costs incurred by the executive director or board in the administration and enforcement of millionaire party activity under the Traxler-McCauley-Law-Bowman bingo act, 1972 PA 382, MCL 432.101 to 432.152.
(c) After the expenditures under subdivisions (a) and (b), each year, $500,000.00 to the compulsive gaming prevention fund created in section 3 of the compulsive gaming prevention act, 1997 PA 70, MCL 432.253.
(d) After the expenditures under subdivisions (a), (b), and (c), each year, $2,000,000.00 to the first responder presumed coverage fund created in section 405 of the worker’s disability compensation act of 1969, 1969 PA 317, MCL 418.405.
(e) All money remaining after expenditures under subdivisions (a), (b), (c), and (d) to be deposited into the state school aid fund established under section 11 of article IX of the state constitution of 1963.
(5) As used in this section, “executive director” means that term as defined in section 2 of the Traxler-McCauley-Law-Bowman bingo act, 1972 PA 382, MCL 432.102.