Notwithstanding the provisions of 4 Pa.C.S. § 1407(b) (relating to Pennsylvania Gaming Economic Development and Tourism Fund), all money in the Pennsylvania Gaming Economic Development and Tourism Fund not previously allocated to projects under the act of July 25, 2007 (P.L. 342, No. 53), known as Pennsylvania Gaming Economic Development and Tourism Fund Capital Budget Itemization Act of 2007, and the Commonwealth's right, title and interest in Pennsylvania Gaming Economic Development and Tourism Fund receipts not encumbered by the Pennsylvania Gaming Economic Development and Tourism Fund Capital Budget Itemization Act of 2007 are hereby transferred to the authority. The State Treasurer is authorized and directed to enter into any agreements with the authority and establish accounts and funds, that shall not be in the State Treasury, as the authority may direct as being necessary or appropriate to effect the transfer of Pennsylvania Gaming Economic Development and Tourism Fund receipts to the authority. For a ten- year period beginning with the initial deposits under 4 Pa.C.S. § 1407(c), no grants shall be distributed for any project located in a city or county of the first or second class. Following the allocation of all proceeds from obligations issued under section 501(a),¹ all money other than money required for debt service shall be available for distribution under this act. No money shall be authorized or distributed for any project within a city or county of the first or second class, other than those projects described in the Pennsylvania Gaming Economic Development and Tourism Fund Capital Budget Itemization Act of 2007, until such time as an amount equal to $750,000,000 has been authorized and distributed from the fund for projects outside of a city or county of the first or second class.