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1997 SESSION

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SJ 255 Constitutional amendment; Literary Fund.

Introduced by: Stephen D. Newman | all patrons    ...    notes | add to my profiles

SUMMARY:

Constitutional amendment (first resolution); Literary Fund; lottery proceeds. Amends the Constitution of Virginia to require the deposit of lottery profits into the Literary Fund. Beginning in the first fiscal year following the ratification of the amendment (1999-2000), 10 percent of the lottery profits would go to the Fund. The percentage of lottery profits transferred to the Fund increases by 10 percent per year until, in the tenth year and thereafter, all of the lottery profits will be deposited in the Fund. The use of the assets in the Literary Fund is expressly limited to financing the construction and renovation of public schools. Incorporated in SJR 375.

FULL TEXT

• 01/15/97  Senate: Presented & ordered printed 975666719  pdf

HISTORY

• 01/15/97  Senate: Presented & ordered printed 975666719
• 01/15/97  Senate: Referred to Committee on Privileges and Elections
• 01/29/97  Senate: No action taken by Privileges and Elections
• 01/29/97  Senate: Incorporated in other legislation (SJ375, Earley)
• 02/04/97  Senate: Left in Privileges and Elections