CO SB233

Commission authorized to license no more than 2 lottery retailers to install and operate video lottery terminals (VLTs) at no more than 2 sites statewide, with a maximum of 2,500 VLTs per site.

Lottery retailers must be pari-mutuel licensees operating at licensed tracks or owned/controlled premises in age-controlled areas; all operating expenses paid by retailers.

Lottery retailers receive 70 percent of net machine income; remaining proceeds distributed per state constitutional requirements after prizes and expenses.

Colorado Lottery Higher Education Fund created to receive revenues otherwise allocated to general fund, for postsecondary education financial assistance.

Public school capital construction assistance fund capped at $5.5 million annually from VLT revenues; community colleges eligible for additional allocations if extended limited gaming fund revenues fall below $6.029 million adjusted for inflation.