23-5-638. (Temporary) Loans to video gambling machine owners. (1) A licensed machine owner of a video gambling machine who incurs actual hardware or software costs for conversion of a video gambling machine to make it compatible with the automatic accounting and reporting system authorized by 23-5-637 is eligible for loan assistance pursuant to Title 17, chapter 6, part 3, to cover the actual costs of conversion for each video gambling machine if the owner:
     (a) is eligible for a tax credit under 23-5-610; and
     (b) meets all other eligibility criteria required by the lending institution.
     (2) The total amount of loans participated in by the state under this section may not exceed $3.6 million. (Terminates December 31, 2005--sec. 10, Ch. 424, L. 1999.)

     History: En. Sec. 2, Ch. 424, L. 1999.