432.416 Internet sports betting fund.

Sec. 16.

    (1) The internet sports betting fund is created in the state treasury.

    (2) The state treasurer may receive money or other assets required to be paid into the fund under this act or from any other source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.

    (3) The board is the administrator of the fund for auditing purposes.

    (4) The board shall expend money from the fund, on appropriation, for all of the following:

    (a) The board's costs of regulating and enforcing internet sports betting under this act.

    (b) After the expenditure under subdivision (a), each year, $1,000,000.00 to the compulsive gaming prevention fund created in section 3 of the compulsive gaming prevention act, 1997 PA 70, MCL 432.253.

    (c) After the expenditures under subdivisions (a) and (b), each fiscal year, an amount, not to exceed $7,000,000.00, to the Christopher R. Slezak first responder presumed coverage fund created in section 405 of the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.405, to pay 50% of the costs incurred in the payment of approved claims and the administration of the Christopher R. Slezak first responder presumed coverage fund under section 405 of the worker's disability compensation act of 1969, 1969 PA 317, MCL 418.405.

    (d) After the expenditures under subdivisions (a), (b), and (c), each year, $1,000,000.00 to the Michigan strategic fund created in section 5 of the Michigan strategic fund act, 1984 PA 270, MCL 125.2005, for distribution to federally recognized tribal governments in Michigan for essential government services. The funds must be distributed according to an allocation plan recommended by the Inter-Tribal Council of Michigan.

    (e) All money remaining in the fund after the expenditures under subdivisions (a) to (d) must be deposited into the state school aid fund established under section 11 of article IX of the state constitution of 1963.

    (5) As used in this section, "federally recognized tribal government" means any Indian tribe, band, nation, or other organized group or community of Indians that is recognized as eligible by the United States Secretary of the Interior for the special programs and services provided by the United States to Indians because of their status as Indians, and is recognized as possessing powers of self-government.