HB 377 Summary

• Amends Section 10 of Am. Sub. H.B. 386 to modify payments from the Casino Operator Settlement Fund to municipal corporations and townships with commercial racetracks.

• Director of Budget and Management shall pay $1 million within three months to municipalities or townships where more than 50% of a commercial racetrack's real property is or was located, excluding relocated racetrack communities and counties with populations between 1,100,000 and 1,200,000.

• Within six months, Director shall pay an additional $1 million to eligible entities either equally or proportionally if racetrack property spans multiple jurisdictions.

• Removes the limitation restricting payments to no more than six municipal corporations or townships.

• Recipients must use at least 50% of funds for infrastructure improvements; communities losing racetracks to relocation become eligible for additional payments from the Racetrack Facility Community Economic Redevelopment Fund, capped at $3 million minus any payments already received.