RELATING TO THE ECONOMY.
What changed between versions
Establishes the Hawaii Gaming Control Commission as a new state body to oversee all casino operations.
Requires casino license applicants to pay a $150 million fee and commit to investing at least $50 million in facility development.
Prohibits any casino licensee or its affiliates from operating in jurisdictions that allow wagering on Hawaii collegiate athletics.
Defines specific terms like 'Affiliate', 'Qualifier', and 'Institutional Investor' to clarify who must be vetted and licensed.
Sets strict eligibility criteria for applicants and qualifiers, including requirements for experience revitalizing urban areas and clean criminal records.
Grants the commission powers to inspect facilities, suspend licenses, and impose fines up to $10,000 per violation.
Sets a deadline for applicants to submit licenses within 30 days of the commission's first meeting and requires licenses to be issued within 30 days of selection.
Exempts casino facilities from certain property assessments and special improvement district requirements.