| |
|
| |
|
|
By: Geren (Senate Sponsor - West) |
H.B. No. 3350 |
|
|
(In the Senate - Received from the House April 27, 2007; |
|
|
May 1, 2007, read first time and referred to Committee on State |
|
|
Affairs; May 17, 2007, reported favorably by the following vote: |
|
|
Yeas 8, Nays 0; May 17, 2007, sent to printer.) |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
| |
|
|
relating to payment of costs incurred in the operation and |
|
|
administration of the Texas Lottery Commission. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 466.355(b), Government Code, is amended |
|
|
to read as follows: |
|
|
(b) Money in the state lottery account may be used only for |
|
|
the following purposes and shall be distributed as follows: |
|
|
(1) the payment of prizes to the holders of winning |
|
|
tickets; |
|
|
(2) the payment of costs incurred in the operation and |
|
|
administration of the commission [lottery], including any fees paid |
|
|
to [received by] a lottery operator, provided that the costs |
|
|
incurred in a fiscal biennium may not exceed an amount equal to 12 |
|
|
percent of the gross revenue accruing from the sale of tickets in |
|
|
that biennium; |
|
|
(3) the establishment of a pooled bond fund, lottery |
|
|
prize reserve fund, unclaimed prize fund, and prize payment |
|
|
account; and |
|
|
(4) the balance, after creation of a reserve |
|
|
sufficient to pay the amounts needed or estimated to be needed under |
|
|
Subdivisions (1) through (3), to be transferred to the foundation |
|
|
school fund, on or before the 15th day of each month. |
|
|
SECTION 2. This Act takes effect September 1, 2007. |
|
|
|
|
|
* * * * * |