AI-assisted research summary: This section creates the 2021 compact trust fund, tells the department of gaming and state treasurer how to administer it, limits spending to stated purposes, and requires an annual report by September 30.
5-605 - Tribal-state compacts; 2021 compact trust fund; annual report; definition 5-605. Tribal-state compacts; 2021 compact trust fund; annual report; definition A. The 2021 compact trust fund is established for the exclusive purposes of mitigating impacts to Indian tribes from gaming authorized by the 2021 gaming compact amendment and providing economic benefits to beneficiary tribes, including those with an effective gaming compact that includes the 2021 amendments and do not engage in gaming. The trust fund consists of contributions from Indian tribes designated in the 2021 gaming compact amendments. The trust fund shall not include tribal contributions made pursuant to section 5-601.02, subsection H. B. The department of gaming shall administer the 2021 compact trust fund as trustee in accordance with the terms of section 12.1 of the 2021 gaming compact amendment. The state treasurer shall accept, separately account for and hold in trust any monies deposited in the state treasury, which are considered to be trust monies as defined by section 35-310 and which shall not be commingled with any other monies in the state treasury except for investment purposes. On notice from the director of the department of gaming, the state treasurer shall invest and divest any trust fund monies deposited in the state treasury as provided by sections 35-313 and 35-314.03, and monies earned from the investment shall be credited to the trust fund. C. The beneficiaries of the trust fund are federally recognized Indian tribes with a 2021 gaming compact amendment that are eligible to receive payments from the trust fund according to the terms of the 2021 gaming compact amendment. D. Monies in the trust fund shall be disbursed exclusively for the purposes prescribed in this article and in accordance with the 2021 gaming compact amendment. Surplus monies, including any unexpended and unencumbered balance at the end of the fiscal year, shall be carried forward to the following year and shall not revert or be transferred to any other fund, including the state general fund.  Monies in the trust fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations. E. On or before September 30 of each year, the department of gaming shall issue a report to the governor, the president of the senate, the speaker of the house of representatives and each tribe that has executed a 2021 gaming compact amendment that discloses all monies deposited in and disbursed from the trust fund during the prior fiscal year. F. For the purposes of this section, "2021 gaming compact amendment" means a tribal-state gaming compact amendment that becomes effective after January 1, 2021.