1. (a) If the commission approves an application under section 6 of this chapter, the commission:

   1. (1) shall require the applicant to pay to the commission a fee of one hundred fifty million dollars ($150,000,000) in the manner described in subsection (b); and
   2. (2) may impose other requirements that the commission deems necessary and appropriate to protect the interest of the state and the person whose application is approved under section 6 of this chapter.
2. (b) The payment required by subsection (a)(1) must be paid to the commission in five (5) annual payments of equal amounts. The first payment required by this section is due within thirty (30) days of the approval of the application under section 6 of this chapter. The four (4) remaining annual payments are each due on the anniversary date of the first payment.

3. (c) The commission shall deposit the total sum of fee revenue received under subsection (a) as follows:

   1. (1) One hundred million dollars ($100,000,000) in the state general fund.
   2. (2) Fifty million dollars ($50,000,000) in the shuttered riverboat fund established in IC 4-33-4-28 .

As added by P.L.77-2026, SEC.9.