La. R.S. § 27:241.1 Minimum Compensation Payments; Effective March 31, 2001; Payments Beginning August 1, 2022

• Library: Louisiana Statutes
• Edition: 2023
• Currency: Current with changes from the 2023 Legislative Session
• Year: 2023
• Citation: La. R.S. § 27:241.1

A. Notwithstanding the provisions of R.S. 27:241(C) or any other law to the contrary, effective midnight March 31, 2001, the minimum compensation to be paid by the casino operator to the Louisiana Gaming Control Board shall be the greater of:

(i) eighteen and one-half percent of gross revenues or

(ii) fifty million dollars for the casino fiscal year April 1, 2001 through March 31, 2002, sixty million dollars for the casino fiscal year April 1, 2002 through March 31, 2022, and sixty-five million dollars for the casino year April 1, 2022, and for each casino fiscal year thereafter. Such amount shall be allocated as provided in R.S. 27:270(A)(3)(b).

B.

(1) In addition to any existing obligation to remit to the Louisiana Gaming Control Board any fees or compensation, including compensation paid to the state pursuant to the provisions of this Section, beginning on August 1, 2019, and concluding July 31, 2054, the casino operator shall annually pay to the state the sum of money set forth in Paragraph (2) of this Subsection which shall be used solely for the purpose of providing funding to the Louisiana Cancer Research Center of the LSU Health Sciences Center in New Orleans/Tulane Health Sciences Center.

(2)

(a) Except as provided in Subparagraph (b) of this Paragraph, beginning on October 1, 2019, the payment required by Paragraph (1) of this Subsection shall be equal to three million four hundred thousand dollars.