- (a) The commission may enforce the phasing and completion timelines to which the applicant committed under section 2(a) of this chapter.
(b) If the applicant whose application was approved by the commission under section 6 of this chapter sells or otherwise transfers the licensed owner's interest in the owner's license within ten (10) years from the date the application was approved, the following apply:
- (1) The licensed owner shall pay a fee of fifty million dollars ($50,000,000) to the commission before the sale or transfer of the license may be approved by the commission. Any payment required under this subdivision shall be deposited in the state general fund.
- (2) If, at the time of the transfer of ownership, the five hundred million dollar ($500,000,000) investment to which the licensed owner committed under section 2(a)(1)(C) of this chapter has not been met, the person acquiring the owner's license shall, not later than ten (10) years from the date the application was approved by the commission under section 6 of this chapter, invest in the casino and nongaming amenities an amount that is at least equal to the difference between five hundred million dollars ($500,000,000) and the amount actually invested by the person transferring the owner's license.
As added by P.L.77-2026, SEC.9.