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1995 SESSION
LD3185388Be it enacted by the General Assembly of Virginia:
1. That § 58.1-4022 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-4022. State Lottery Fund.
A. All moneys received from the sale of lottery tickets or shares, less payment for prizes and compensation of agents as authorized by regulation and any other revenues received under this chapter, shall be placed in a special fund known as the "State Lottery Fund." Notwithstanding any other provisions of law, interest earned from moneys in the State Lottery Fund shall accrue to the benefit of such Fund.
B. The total costs for the operation and administration of the lottery shall
be funded from the State Lottery Fund and shall be in such amount as provided
in the general appropriation act. Appropriations to the Department during any
fiscal year beginning on and after July 1, 1989, exclusive of agent
compensation, shall at no time exceed ten nine percent
of the total annual estimated gross revenues to be generated from lottery
sales. However, should it be anticipated at any time by the Director that
such operational and administrative costs for a fiscal year will exceed the
limitation provided herein, the Director shall immediately report such
information to the Board, the Governor and the Chairmen of Senate Finance and
House Appropriations Committees. From the moneys in the Fund, the Comptroller
shall establish a special reserve fund in such amount as shall be provided by
regulation of the Department for (i) operation of the lottery, or (ii) use if
the game's pay-out liabilities exceed its cash on hand.
C. Any start-up sums appropriated from the general fund of the Commonwealth necessary to commence operation of a state lottery shall be repaid within the first twelve months of initial lottery sales.
D. Appropriation of lottery revenues shall be made only upon actual and audited collections as transferred to the general fund and shall in no event be predicated upon an estimation of such revenues. No later than ten days after receipt of the audit report required by § 58.1-4023, the Comptroller shall transfer to the general fund, less the special reserve fund, the audited balances of the State Lottery Fund. From the lottery revenues transferred to the general fund, an amount equal to one percent of the total annual gross revenues generated from lottery sales shall be apportioned by the Comptroller and distributed among Virginia’s counties, cities, and towns based upon the school-age population of each locality according to the most recent statewide census of such population taken by the Department of Education pursuant to Article 4 (§ 22.1-281 et seq.) of Chapter 14 of Title 22.1. The Department of Education shall adjust the school population figures by the same percentage of annual change in total population, estimated for each locality by the Center for Public Service, for any calendar year in which a statewide census is not reported. The amount shall be distributed within thirty days after the Comptroller transfers the audited balances of the State Lottery Fund to the general fund. Each locality receiving such a distribution shall use its distribution exclusively for law-enforcement expenditures as provided in Article 10 (§ 14.1-84.1 et seq.) of Chapter 1 of Title 14.1.
E. As a function of the administration of this chapter, funds may be expended for the purposes of reasonably informing the public concerning (i) the facts embraced in the subjects contained in subdivisions 1 through 7 of subsection A of § 58.1-4007 and (ii) the fact that the net proceeds are paid into the general fund of the Commonwealth; but no funds shall be expended for the primary purpose of inducing persons to participate in the lottery.