2024 Senate Bill 933

AI Analysis – Experimental

The bill establishes the creation of the Internet Sports Betting Fund within the state treasury, which will be managed by the state treasurer. The treasurer is authorized to receive and invest funds from various sources, with interest and earnings credited back to the fund. The board overseeing the fund will handle its administration for auditing purposes and will allocate the funds as appropriated.

The primary allocations from the fund include covering the board's regulatory and enforcement costs related to internet sports betting. Following these expenditures, $1,000,000 annually will be directed to the Compulsive Gaming Prevention Fund, as established by the Compulsive Gaming Prevention Act of 1997 (MCL 432.253). Additionally, $2,000,000 annually will be allocated to the Christopher R. Slezak First Responder Presumed Coverage Fund, created under the Worker's Disability Compensation Act of 1969 (MCL 418.405). Any remaining funds after these allocations will be deposited into the State School Aid Fund, as per the state constitution.

This legislation modifies existing statutes by introducing new financial allocations and establishing a structured approach to fund distribution, impacting various stakeholders. Regulatory bodies will benefit from secured funding for enforcement activities, while the compulsive gaming prevention initiatives and first responder support programs will receive significant financial boosts. The education sector stands to gain from any residual funds, potentially enhancing state school aid. The bill outlines no specific deadlines but sets annual funding allocations, ensuring ongoing financial support for the specified areas.