SB 22-216 Summary

• Creates the State Historical Society Strategic Initiatives Fund to receive $3 million in limited gaming tax revenues for fiscal year 2021-22, with the fund and related provisions repealing July 1, 2027.

• Adjusts limited gaming tax revenue allocation for fiscal year 2021-22 by setting an adjusted base of $113,973,012 for determining revenues attributable to extended limited gaming, with revenues exceeding this base allocated to extended gaming recipients.

• Establishes new allocation procedures triggered when total limited gaming tax revenues decline by 5 percent or more in a single fiscal year or 6 percent or more cumulatively over two consecutive years, requiring growth or decline to be shared proportionally between recipients.

• Requires supplemental payments totaling up to $1.25 million from the general fund to local government gaming recipients (Gilpin and Teller counties, and the cities of Central, Black Hawk, and Cripple Creek) to offset losses from the bill's reallocation.

• Directs a working group to study whether data can identify limited gaming tax revenues attributable to extended gaming operations and compare findings to current law allocations, with a report due November 1, 2022.