facility, [2% of the gross terminal revenue or]
$10,000,000 annually[, whichever is greater, shall be
paid by each licensed entity operating a licensed
facility located in that city] shall be distributed to
the city, subject, however, to the budgetary limitation
in this subparagraph. The amount allocated to the
designated municipalities shall not exceed 50% of their
total budget for fiscal year 2003-2004, adjusted for
inflation in subsequent years by an amount not to exceed
an annual cost-of-living adjustment calculated by
applying the percentage change in the Consumer Price
Index immediately prior to the date the adjustment is due
to take effect. Any remaining moneys shall be [collected
by the department from each licensed gaming entity and]
distributed in accordance with paragraph (2) based upon
the classification of county where the licensed facility
is located. [In the event that the revenues generated by
the 2% do not meet the $10,000,000 minimum specified in
this subparagraph, the department shall collect the
remainder of the minimum amount of $10,000,000 from each
licensed gaming entity operating a facility in the city,
pay any balance due to the city and transfer any
remainder in accordance with paragraph (2).]
(iii) To a city of the third class hosting a
licensed facility, other than a Category 3 licensed
facility, [2% of the gross terminal revenue or]
$10,000,000 annually[, whichever is greater, shall be
paid by each licensed gaming entity operating a licensed
facility located in that city,] less any amount up to
$5,000,000 received pursuant to a written agreement with
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