Sec. 3. (a) A permit holder that is issued a gambling game license under this article must pay to the commission an initial licensing fee of two hundred fifty million dollars ($250,000,000) as follows:
(1) One hundred fifty million dollars ($150,000,000) payable before November 1, 2007.
(2) One hundred million dollars ($100,000,000) payable before November 1, 2008.
(b) The commission shall deposit any initial licensing fees collected under this section into the state general fund.