SRC-MAX S.B. 105 75(R) BILL ANALYSIS Senate Research CenterS.B. 105 By: Nelson Finance 3-10-97 As Filed DIGEST When the Texas Lottery was created in 1991, revenues beyond those required for operations costs and payment of prizes were assigned to the General Revenue Fund. Widespread public perception exists that the lottery funds were originally intended for education funding. This bill would transfer revenue derived from the state lottery to the foundation school fund. PURPOSE As proposed, S.B. 105 transfers revenue derived from the state lottery to the foundation school fund. RULEMAKING AUTHORITY This bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 466.355(b), Government Code, to authorize money in the state lottery account to be used only for certain purposes and requires the money to be transferred to the foundation school fund, rather than the unobligated portion of the general revenue, by the 15th day of each month, among other stipulations. SECTION 2. Effective date: September 1, 1997. Make application of this Act prospective. SECTION 3. Emergency clause.