Pennsylvania Code › Title 61 - REVENUE › Part IX - Pennsylvania Gaming Cash Flow Management › Chapter 1001 - PENNSYLVANIA GAMING CASH FLOW MANAGEMENT › GENERAL PROVISIONS › Section 1001.3 - Definitions

Current through Register Vol. 54, No. 28, July 13, 2024
The following words and terms, when used in this chapter,
					 have the following meanings, unless the context clearly indicates
					 otherwise.
Act
-The Pennsylvania Race Horse
					 Development and Gaming Act (4 Pa.C.S. §§
											1101-1904).
Annual minimum distribution
-As provided
					 under the act, 2% of the gross terminal revenue of the licensed gaming entity
					 or $10 million, whichever is greater.
Banking day
-The part of any day that the
					 Federal Reserve has established for a bank to be opened to the public for
					 carrying on substantially all of its banking functions.
Board
-The Pennsylvania Gaming Control
					 Board of the Commonwealth.
CCS
-The central control computer system
					 controlled by the Department and accessible by the Board, to which all slot
					 machines communicate for the purpose of recording, reviewing, reporting and
					 auditing real-time information regarding the events that occur during the
					 operation of a slot machine. The system calculates the taxes and assessments
					 due daily and provides information to the Department to track daily
					 deposits.
Certificate holder
-As defined in section
					 1103 of the act (relating to definitions).
Collection Account
-A Department bank
					 account authorized by the Treasury for the collection of taxes and other
					 payments received from licensed gaming entities and which is maintained and
					 reconciled by the Department.
Concentration Account
-A Treasury bank
					 account used for the deposit and disbursement of all recognized Commonwealth
					 moneys and which is maintained and reconciled by the Treasury
					 Department.
Credit against tax
-Credit as specified in
					 section 1209(c) of the act (relating to slot machine license fee) and
					 established if the tax rate imposed by section 1403 of the act (relating to
					 establishment of State Gaming Fund and net slot machine revenue distribution)
					 upon slot machine daily gross terminal revenue is increased at any time during
					 the term of 10 years following the initial issuance of the slot machine
					 license.
Department
-The Department of Revenue of
					 the Commonwealth.
EFT
-Electronic funds transfer.
Fund
-A fiscal and accounting entity with a
					 self-balancing set of accounts recording cash and other financial resources,
					 together with all related liabilities and residual equities or balances and the
					 changes therein, that are segregated for the purpose of carrying on specific
					 activities or attaining certain objectives established for the receipt of gross
					 terminal revenue distributions and gross table game revenue under the
					 act.
General Fund
-The fund into which general,
					 nonearmarked revenues of the Commonwealth are deposited and from which monies
					 are appropriated to pay the general expenses of the Commonwealth.
Gross table game revenue
-As defined in
					 section 1103 of the act.
Gross terminal revenue
-As defined in
					 section 1103 of the act.
Licensed gaming entity
-As defined in
					 section 1103 of the act.
Manufacturers
-As defined in section 1103
					 of the act.
Office of the Budget
-An administrative
					 agency as authorized by section 609 of The Administrative Code of 1929
					 (71
					 P. S. §
											229) under the direct
					 supervision of the Secretary of the Budget.
Pennsylvania Gaming Economic Development and
					 Tourism Fund
-The fund established under section 1407 of the act
					 (relating to Pennsylvania Gaming Economic Development and Tourism Fund).
Pennsylvania Race Horse Development
					 Fund
-The fund established under section 1405 of the act (relating to
					 Pennsylvania Race Horse Development Fund).
Property Tax Relief Fund
-The fund
					 established under section 1409 of the act (relating to Property Tax Relief
					 Fund).
Race Horse Improvement Daily
					 Assessment
-The amount each operating licensed gaming entity shall pay
					 daily to the Department, according to Department calculations.
State Gaming Fund
-The fund established
					 under section 1403 of the act.
Suppliers
-As defined in section 1103 of
					 the act.
Treasury
-The Treasury Department of the
					 Commonwealth.