§ 1305.2. Conduct of auctions
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 4 Pa.C.S.A. AmusementsEffective: October 30, 2017
Effective: October 30, 2017
4 Pa.C.S.A. § 1305.2
§ 1305.2. Conduct of auctions
(b.1) Additional auctions.--If a subsequent auction fails to generate any bids, the board, in its discretion, may determine if it is in the best interests of the Commonwealth whether to conduct additional auctions at which any Category 1, Category 2 or Category 3 slot machine licensee, or other qualified entity, may bid. If the board intends to conduct additional auctions, the board shall first establish criteria and procedures for the qualification of entities to bid and apply for a Category 4 license.
(2) The board shall adopt procedures to prevent bid rigging and collusion among bidders and establish auction conditions, processes or procedures. The procedures shall not be subject to review under section 205 of the act of July 31, 1968 (P.L. 769, No. 240),1 referred to as the Commonwealth Documents Law, sections 204(b) and 301(10) of the act of October 15, 1980 (P.L. 950, No. 164),2 known as the Commonwealth Attorneys Act, or the act of June 25, 1982 (P.L. 633, No. 181),3 known as the Regulatory Review Act.
(6) If the auction does not result in a winning bid, the highest bidders shall have one hour to submit a final and best bid to the board at the same public meeting. If the submission of the final bids does not result in a winning bid, the highest bidders shall continue to submit final bids, in an amount not less than or equal to a prior bid submission, until a winning bid is received.
(8) If the winning bidder does not pay the bid amount within the time period required under paragraph (7), the second highest bidder shall be awarded the right to select a Category 4 location and apply for the Category 4 slot machine license, so long as the second highest bidder's bid amount meets the requirements of paragraph (5). If the second highest bidder declines the award or is ineligible to win, the board shall conduct another auction.
(9) Upon winning an auction, the winning bidder at the public meeting shall select the Category 4 location at which it intends to operate the Category 4 licensed facility. The board shall post the Category 4 location selection on its publicly accessible Internet website. The selected Category 4 location may not be selected by a subsequent winning bidder.
(12) In the event the board denies the application for the Category 4 slot machine license filed by the winning bidder, the winning bidder shall be entitled to a return of 75% of the winning bid amount the winning bidder submitted under paragraph (7). A refund under this paragraph shall be paid from the General Fund. The board shall conduct another auction at a time determined by the board.
(13) If the board approves the application for the Category 4 slot machine license filed by the winning bidder and the applicant fails to open and operate the Category 4 licensed facility, the bid amount submitted under paragraph (7) is forfeited. The board shall conduct another auction at a time determined by the board.
Credits
2017, Oct. 30, P.L. 419, No. 42, § 12.1, imd. effective.
4 Pa.C.S.A. § 1305.2, PA ST 4 Pa.C.S.A. § 1305.2
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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