Sec. 9.1. (a) A fund that:
(1) was established by a unit before July 1, 1997; and
(2) would have been considered a riverboat fund for purposes of section 9 of this chapter if section 9 of this chapter had been in effect before July 1, 1997;
is legalized and validated.
(b) A fund described in subsection (a) is considered a riverboat fund for purposes of section 9 of this chapter.