Section 9 Workforce Investment Trust Fund and Economic Development Trust Fund Reforms 1

          Chapter 23N of the General Laws is hereby amended by striking out section 17, as appearing in the 2024 Official Edition, and inserting in place thereof the following section:-

          Section 17. There shall be established and set up on the books of the commonwealth a Sports Wagering Fund which shall receive revenues collected pursuant to sections 6 and 14. The fund shall not be subject to appropriation. The commission shall be the trustee of the fund and shall transfer monies from the fund as follows:

          (1) 45 per cent to the General Fund;
          (2) 10 per cent to the Workforce Investment Trust Fund established in section 18;
          (3) 7.5 per cent to the Economic Development Trust Fund established in Section 16I of chapter 6A;
          (4) 27.5 per cent to the Gaming Local Aid Fund established in section 63 of chapter 23K;
          (5) 1 per cent to the Youth Development and Achievement Fund established in section 19; and
          (6) 9 per cent to the Public Health Trust Fund established in section 58 of chapter 23K.

This section, together with related sections, authorizes the Secretary of Economic Development, in consultation with the Secretary of Labor and Workforce Development, to transfer funds from the Workforce Investment Trust Fund to the Economic Development Trust Fund and allows for more flexible use of the Workforce Investment Trust Fund.