H954: Video Lottery Entertainment - Summary

• Authorizes regulation of video lottery terminals in North Carolina through the State Lottery Commission, establishing licensing requirements for manufacturers, operators, and video lottery merchants.

• Allocates net machine revenues as follows: minimum 32% to North Carolina Video Lottery Fund, maximum 8% for Commission administrative expenses, 35% to operators, and 25% to video lottery merchants.

• Establishes the Community College Scholarship Loan Program funded by video lottery revenues, providing up to $2 million annually to each of five historically Black universities and forgivable loans to community college students pursuing associate degrees, diplomas, or certificates.

• Imposes privilege taxes on licensed entities: $50,000 for manufacturers, $25,000 plus $150 per terminal for operators, and $1,000 per location plus $150 per terminal for merchants.

• Restricts video lottery terminal placement to locations with active alcohol beverage permits, requires 500-foot buffer from churches and schools, limits machines to 6-10 per merchant location, and prohibits play by persons under age 21.