                                 CODE OF VIRGINIA

GAMING PROCEEDS FUND (§ 58.1-4125)

A. There is hereby created in the state treasury a special nonreverting fund to
be known as the Gaming Proceeds Fund, referred to in this section as &#8220;the
Fund.&#8221; The Fund shall be established on the books of the Comptroller. All
moneys required to be deposited into the Fund pursuant to this chapter shall be
paid into the state treasury and credited to the Fund. Any moneys remaining in
the Fund, including interest thereon, at the end of each fiscal year shall not
revert to the general fund but shall remain in the Fund.

B. Revenues from the Fund shall be apportioned by the Comptroller as follows:

   1. The following amounts shall be distributed to the city in which they were
   collected by warrants of the Comptroller drawn on the Treasurer of Virginia on
   a quarterly basis:
   				a. An amount equal to a six percent tax on the first $200 million of
   adjusted gross receipts;
   				b. An amount equal to a seven percent tax on the adjusted gross receipts
   that exceed $200 million but do not exceed $400 million; and
   				c. An amount equal to an eight percent tax on the adjusted gross receipts
   that exceed $400 million.

   2. For any casino gaming establishment operated by a Virginia Indian tribe
   recognized in House Joint Resolution No. 54 (1983) and acknowledged by the
   Assistant Secretary-Indian Affairs of the U.S. Department of the Interior as
   an Indian tribe within the meaning of federal law that has the authority to
   conduct gaming activities as a matter of claimed inherent authority or under
   the authority of the Indian Gaming Regulatory Act (25 U.S.C. &#xA7; 2701 et
   seq.), an amount equal to a tax of one percent on the adjusted gross receipts
   of such establishment shall be deposited in the Virginia Indigenous
   People&#8217;s Trust Fund established pursuant to &#xA7; 2.2-401.01.

   3. Eight-tenths of one percent of the Fund shall be deposited in the Problem
   Gambling Treatment and Support Fund established pursuant to &#xA7; 37.2-314.2.

   4. Two-tenths of one percent of the Fund shall be deposited in the Family and
   Children&#8217;s Trust Fund established pursuant to &#xA7; 63.2-2100.

   5. Any remaining revenues not apportioned pursuant to subdivisions 1 through 4
   shall be deposited in the School Construction Fund established pursuant to
   &#xA7; 22.1-140.1.

HISTORY: 2020, cc. 1197, 1248; 2021, Sp. Sess. I, c. 7; 2022, Sp. Sess. I, cc.
8, 9; 2023, cc. 586, 587.