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2000 SESSION

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HB 749 Constitutional amendment; Lottery Proceeds Fund.

Introduced by: William J. Howell | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Constitutional amendment (voter referendum); Lottery Proceeds Fund. Provides for a referendum at the November 7, 2000, election to approve or reject an amendment requiring the General Assembly to establish a Lottery Proceeds Fund which will consist of the net revenues from any lottery conducted by the Commonwealth. Proceeds from the Fund will be distributed to counties, cities, and towns to be expended for public education purposes. The General Assembly may appropriate a portion of the lottery revenues for other purposes by a four-fifths vote of the members voting in each house. Any locality accepting a distribution from the Fund must fund its portion of the cost of maintaining standards of quality without the use of Fund distributions. A Code of Virginia provision is added to state that deposits to and appropriations from the Lottery Proceeds Fund will be treated as part of the general fund of the state treasury for purposes of appropriation acts and comptroller’s reports.


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