Terms Used In Louisiana Revised Statutes > Title 27 > Chapter 7 > Part IV - Taxes and Fees; Distribution of Revenues

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Board: means Louisiana Gaming Control Board. See Louisiana Revised Statutes 27:353
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Dependent: A person dependent for support upon another.
• Eligible facility: means no more than one facility in St. See Louisiana Revised Statutes 27:353
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• License: means the authorization applied for by or issued to the owner of an eligible facility by the board to conduct slot machine gaming at an eligible facility issued pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 27:353
• Licensee: means any person issued a license by the board. See Louisiana Revised Statutes 27:353
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Net slot machine proceeds: means the total of all cash and property received by a licensee from slot machine gaming operations minus the amount of cash or prizes paid to winners and five million dollars annually directly attributable to promotional play wagers. See Louisiana Revised Statutes 27:353
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Slot machine: means any mechanical, electrical, or other device, contrivance, or machine which, upon insertion of a coin, token, or similar object therein or upon payment of any consideration whatsoever, is available to play or operate, the play or operation of which, whether by reason of the skill of the operator or application of the element of chance, or both, may deliver or entitle the person playing or operating the machine to receive cash, premiums, merchandise, tokens, or anything of value, whether the payoff is made automatically from the machine or in any other manner. See Louisiana Revised Statutes 27:353
• Slot machine gaming: means the use, operation, offering, or conducting of slot machines at an eligible facility in accordance with the provisions of this Chapter. See Louisiana Revised Statutes 27:353
• Taxable net slot machine proceeds: means "net slot machine proceeds" less the amount of support, payment, or contributions required as provided in La. See Louisiana Revised Statutes 27:353