By: Ratliff S.B. No. 581
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the cost of operation and administration of the state
1-2 lottery.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (b), Section 466.355, Government Code,
1-5 is amended to read as follows:
1-6 (b) Money in the state lottery account may be used only for
1-7 the following purposes and shall be distributed as follows:
1-8 (1) the payment of prizes to the holders of winning
1-9 tickets;
1-10 (2) the payment of costs incurred in the operation and
1-11 administration of the lottery, including any fees received by a
1-12 lottery operator, provided that the costs incurred in a fiscal
1-13 biennium may not exceed an amount equal to 12 [15] percent of the
1-14 gross revenue accruing from the sale of tickets in that biennium;
1-15 (3) the establishment of a pooled bond fund, lottery
1-16 prize reserve fund, unclaimed prize fund, and prize payment
1-17 account; and
1-18 (4) the balance, after creation of a reserve
1-19 sufficient to pay the amounts needed or estimated to be needed
1-20 under Subdivisions (1) through (3), to be transferred to the
1-21 unobligated portion of the general revenue fund, on or before the
1-22 15th day of each month.
1-23 SECTION 2. This Act takes effect September 1, 1997.
1-24 SECTION 3. The importance of this legislation and the
2-1 crowded condition of the calendars in both houses create an
2-2 emergency and an imperative public necessity that the
2-3 constitutional rule requiring bills to be read on three several
2-4 days in each house be suspended, and this rule is hereby suspended.