WV HB3012

Amends distribution of racetrack video lottery net terminal income to counties and municipalities where racetracks are located, maintaining the 2% allocation to host counties

For counties with thoroughbred racetracks established before January 1, 1999, excess income above fiscal year 1999 levels is split 50% to the county and 50% to municipalities on a per capita basis

For counties with racetracks located in municipalities since before January 1, 1999, excess income is divided equally between the county (50%) and the host municipality (50%)

For counties with racetracks not located in municipalities, the 2% allocation is split with 1% to the county and 1% distributed equally among all municipalities in the county regardless of population

Continues the Licensed Racetrack Modernization Fund through fiscal year 2030, allowing up to $9 million annually in surplus allocations with a 2:1 matching program for facility improvements and capital investments