By Wentworth S.B. No. 506
74R5164 MWV-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the dedication of net lottery revenues to the
1-3 foundation school fund and general revenue fund.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 466.355(b), Government Code, is amended
1-6 to read as follows:
1-7 (b) Money in the state lottery account may be used only for
1-8 the following purposes and shall be distributed as follows:
1-9 (1) the payment of prizes to the holders of winning
1-10 tickets;
1-11 (2) the payment of costs incurred in the operation and
1-12 administration of the lottery, including any fees received by a
1-13 lottery operator, provided that the costs incurred in a fiscal
1-14 biennium may not exceed an amount equal to 15 percent of the gross
1-15 revenue accruing from the sale of tickets in that biennium;
1-16 (3) the establishment of a pooled bond fund, lottery
1-17 prize reserve fund, unclaimed prize fund, and prize payment account
1-18 <transfer of amounts to the state lottery stabilization fund as
1-19 provided by Section 466.356>; and
1-20 (4) the balance, after creation of a reserve
1-21 sufficient to pay the amounts needed or estimated to be needed
1-22 under <provided by> Subdivisions (1) through (3) <and (2)>, to be
1-23 transferred on or before the 15th day of each month as follows:
1-24 (A) 20 percent of the balance to the unobligated
2-1 portion of the general revenue fund; and
2-2 (B) 80 percent of the balance to the foundation
2-3 school fund <, on or before the 15th day of each month>.
2-4 SECTION 2. Section 466.356, Government Code, is repealed.
2-5 SECTION 3. (a) In addition to the changes in law made by
2-6 this Act relating to the dedication of lottery revenue to the
2-7 foundation school fund, this Act conforms the Government Code
2-8 provisions regarding the use of lottery revenue to the changes in
2-9 law made by Sections 1 and 2 of Chapter 25 and Section 27 of
2-10 Chapter 284, Acts of the 73rd Legislature, Regular Session, 1993.
2-11 (b) Sections 1 and 2 of Chapter 25 and Section 27 of Chapter
2-12 284, Acts of the 73rd Legislature, Regular Session, 1993, are
2-13 repealed.
2-14 (c) To the extent of any conflict, this Act prevails over
2-15 another Act of the 74th Legislature, Regular Session, 1995,
2-16 relating to nonsubstantive additions to and corrections in enacted
2-17 codes.
2-18 SECTION 4. This Act takes effect September 1, 1995.
2-19 SECTION 5. Section 466.355(b), Government Code, as amended
2-20 by this Act, applies only to revenue from the sale of a lottery
2-21 ticket that occurs on or after the effective date of this Act.
2-22 Revenue from the sale of a lottery ticket that occurs before the
2-23 effective date of this Act is governed by the law in effect on the
2-24 date of the sale, and the former law is continued in effect for
2-25 that purpose.
2-26 SECTION 6. The importance of this legislation and the
2-27 crowded condition of the calendars in both houses create an
3-1 emergency and an imperative public necessity that the
3-2 constitutional rule requiring bills to be read on three several
3-3 days in each house be suspended, and this rule is hereby suspended.