Bill > A04543

This bill amends the state finance law to establish a detailed framework for distributing revenues from electronic gaming devices at the Niagara Falls casino. Specifically, the bill requires that 25% of the state's negotiated percentage of net gaming device revenues from the Niagara Falls facility be allocated in a precise manner. Of the total annual amount received, 80% will be available for the city of Niagara Falls to use for economic development, neighborhood revitalization, public health, safety, and infrastructure improvements. The remaining 20% will be specifically allocated to various entities: 5.5% (up to $750,000) to Niagara Falls Memorial Medical Center for capital projects, 5.5% (up to $750,000) to the Niagara Falls City School District for capital projects, 7% (up to $1 million) to the Niagara Tourism and Convention Center Corporation for marketing, 1% (or $200,000) to the Underground Railroad Interpretive Center, $50,000 to Mount Saint Mary's Neighborhood Health Center, $50,000 to the Niagara Falls Housing Authority, and any remaining funds for city infrastructure and road improvements. The bill also mandates that recipient entities submit annual reports detailing their use of these funds and imposes financial penalties for late disbursements.