1-1 By: Ratliff S.B. No. 581
1-2 (In the Senate - Filed February 12, 1997; February 18, 1997,
1-3 read first time and referred to Committee on Finance;
1-4 March 24, 1997, reported favorably by the following vote: Yeas 10,
1-5 Nays 1; March 24, 1997, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the cost of operation and administration of the state
1-9 lottery.
1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11 SECTION 1. Subsection (b), Section 466.355, Government Code,
1-12 is amended to read as follows:
1-13 (b) Money in the state lottery account may be used only for
1-14 the following purposes and shall be distributed as follows:
1-15 (1) the payment of prizes to the holders of winning
1-16 tickets;
1-17 (2) the payment of costs incurred in the operation and
1-18 administration of the lottery, including any fees received by a
1-19 lottery operator, provided that the costs incurred in a fiscal
1-20 biennium may not exceed an amount equal to 12 [15] percent of the
1-21 gross revenue accruing from the sale of tickets in that biennium;
1-22 (3) the establishment of a pooled bond fund, lottery
1-23 prize reserve fund, unclaimed prize fund, and prize payment
1-24 account; and
1-25 (4) the balance, after creation of a reserve
1-26 sufficient to pay the amounts needed or estimated to be needed
1-27 under Subdivisions (1) through (3), to be transferred to the
1-28 unobligated portion of the general revenue fund, on or before the
1-29 15th day of each month.
1-30 SECTION 2. This Act takes effect September 1, 1997.
1-31 SECTION 3. The importance of this legislation and the
1-32 crowded condition of the calendars in both houses create an
1-33 emergency and an imperative public necessity that the
1-34 constitutional rule requiring bills to be read on three several
1-35 days in each house be suspended, and this rule is hereby suspended.
1-36 * * * * *