An Act to indexchange a certain level of municipal proceeds regarding the disbursements from the Gaming Commission fund to an inflation index.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 42-7B-48.1 be AMENDED:

42-7B-48.1. Disbursements from the Gaming Commission fund shall be as set forth in § 42-7B-48 until such time as the net municipal proceeds paid to the City of Deadwood equals six seven million eight hundred thousand one hundred thousand dollars for each year, adjusted annually according to an index factor effective July 1, 2022, and after payment of commission expenses pursuant to subdivision 42-7B-48(2), and after payment of one hundred thousand dollars to the State Historical Preservation Grant and Loan historical preservation loan and grant fund pursuant to subdivision 42-7B-48(3). Thereafter, all remaining funds shall be distributed as follows:

(1) Seventy percent to the state general fund;

(2) Ten percent to be distributed to municipalities in Lawrence County, except the City of Deadwood, pro rata according to their population;

(3) Ten percent to be distributed to school districts, pro rata based upon the previous year's average daily membership, located in whole or in part, in Lawrence County. For any school district located only partly in Lawrence County, only that portion of the district's average daily attendance which that represents students residing in Lawrence County shall may be considered in calculating the proration required by this subdivision; and

(4) Ten percent to the City of Deadwood for deposit in the historic restoration and preservation fund.

The index factor is the annual percentage change in the consumer price index for urban wage earners and clerical workers as computed by the Bureau of Labor Statistics of the United States Department of Labor for the year before the year immediately preceding the year of adjustment.