HB609: AN ACT relating to the Kentucky problem gambling assistance fund, making an appropriation therefor, and declaring an emergency.

Legislative Summary

Establish KRS Chapter 239 and create new sections in that chapter to establish the Kentucky problem gambling assistance fund as a revolving account; describe the authorized purposes for the use of fund moneys; establish the Kentucky Problem Gambling Assistance Board to administer, organize, invest, and distribute money from the fund; allow $150,000 from the fund for annual administrative expenses of the board; set board membership, procedures, powers, and duties; require the board to promulgate administrative regulations to establish criteria for expenditures from the fund; direct the board to invest moneys from the fund in a manner to maintain it in perpetuity; appropriate $225,000,000 from the general fund in fiscal year 2022-2023 to the Kentucky problem gambling assistance fund; APPROPRIATION; EMERGENCY.