§393.1. Facility maintenance and improvement fund

            A. Each licensed eligible facility or licensee shall establish and maintain a facility maintenance and improvement fund as provided in R.S. 4:164 and shall make deposits as required therein.

            B. The establishment, required deposits, and maintenance of a facility maintenance and improvement fund as well as compliance with the minimum standards and required infrastructure investments as determined by the Louisiana State Racing Commission shall be a condition of licensing and shall be required by the owner of the licensed eligible facility or the licensee to maintain continued authority to conduct slot machine gaming at the licensed eligible facility. The provisions of this Subsection shall be applicable to any new license or the renewal of any existing license issued by the board on and after July 1, 2022.

            C. Except as provided in R.S. 27:361(E)(3), the board shall not issue a new or renewed license to any eligible facility unless it receives certification from the Louisiana State Racing Commission that the applicant eligible facility is in compliance with the requirements of R.S. 4:164.

            Acts 2022, No. 525, §2, eff. June 16, 2022; Acts 2022, No. 530, §2, eff. June 16, 2022.