By Moffat                                        H.B. No. 952

      75R595 CAG-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the dedication of revenue derived from the state

 1-3     lottery to the foundation school fund.


 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

1-18     account;  and

1-19                 (4)  the balance, after creation of a reserve

1-20     sufficient to pay the amounts needed or estimated to be needed

1-21     under Subdivisions (1) through (3), to be transferred to the

1-22     foundation school [unobligated portion of the general revenue]

1-23     fund, on or before the 15th day of  each month.

1-24           SECTION 2.  This Act takes effect September 1, 1997, and

 2-1     applies only to a transfer from the state lottery account made on

 2-2     or after that date.

 2-3           SECTION 3.  The importance of this legislation and the

 2-4     crowded condition of the calendars in both houses create an

 2-5     emergency and an imperative public necessity that the

 2-6     constitutional rule requiring bills to be read on three several

 2-7     days in each house be suspended, and this rule is hereby suspended.