NC H512

Establishes video gaming terminals as a lottery game regulated by the North Carolina State Lottery Commission, with at least 32% of net machine revenues transferred to a new North Carolina Video Gaming Fund.

Creates the Community College Scholarship Loan Program providing forgivable loans to North Carolina community college students pursuing associate degrees, diplomas, or certificates, with loan forgiveness upon completion within six years.

Allocates video gaming fund revenues annually as follows: $2,000,000 each to six public HBCUs, $10,000,000 to independent HBCUs, amounts sufficient for community college forgivable loans, and $1,000,000 to the Department of Public Safety for grants combating illegal gaming.

Restricts video gaming terminal placement to locations with active ABC permits, limits machines to six per location (expandable to ten), prohibits placement within 500 feet of churches and schools, and restricts players to age 21 and older.

Imposes privilege taxes on video gaming manufacturers ($50,000), operators ($25,000 plus $150 per terminal), and merchants ($1,000 per location plus $150 per terminal), effective July 1, 2024.