AMENDMENTS PROPOSED BY THE SENATE COMMITTEE ON FINANCE (REJECTED)

1. Page 4, introduced, line 15, after facilities

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, less the appropriate match

2. Page 4, introduced, line 36

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all of lines 36 through 38 and line 39 through 3.

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2.

3. Page 5, introduced, line 11, after law.

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the remainder of line 11 and all of lines 12 through 14

FLOOR AMENDMENT (MIMS), (WOODS) REJECTED BY SENATE

1. Page 2, substitute, line 33, after grants

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remainder of line 33 and all of lines 34 through 36

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as follows: (i) 40 percent of the available grant funds shall be apportioned and distributed equally to each school division, (ii) 40 percent of the available grant funds shall be apportioned and distributed to each school division on a pro rata basis according to its average daily membership adjusted by the locality's composite index of ability to pay as set forth in the general appropriation act, and (iii) 20 percent of the available grant funds shall be apportioned and distributed to each school division on a pro rata basis according to its average daily membership.

FLOOR AMENDMENTS (GARTLAN) REJECTED BY SENATE

1. Page 2, substitute, line 31

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years

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year

2. Page 2, substitute, line 31, after 1998-1999

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and 1999-2000

3. Page 2, substitute, line 32, after (i)

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the remainder of line 32 and all of lines 33 through 36

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forty percent of the available grant funds shall be allocated and distributed equally to each school division; (ii) forty percent of the available grant funds shall be allocated and distributed to each school division on a pro rata basis according to the school division's average daily membership adjusted by the locality's composite index; and (iii) twenty percent of the available grant funds shall be allocated and distributed to each school division on a pro rata basis according to the school division's average daily membership.

4. Page 2, substitute, line 37, after chapter

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during fiscal year 1999-2000 pursuant to Item 554 of the Appropriation Act and

5. Page 2, substitute, line 39, after by the

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2000

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1999

6. Page 2, substitute, line 40, after criteria, the

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2000

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1999

7. Page 13, substitute, line 34, after and the

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2000

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1999

FLOOR AMENDMENTS (HOUCK) REJECTED BY SENATE

1. Page 1, substitute, line 6, after 46.1-623,

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and 58.1-3912

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58.1-3912, 58.1-4020 and 58.1-4022

2. Page 1, substitute, line 15, after 46.2-623,

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and 58.1-3912

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58.1-3912, 58.1-4020 and 58.1-4022

3. Page 2, substitute, line 30, after A.

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all of lines 30 and 31 and through apportioned on line 32

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Grants shall be allocated

4. Page 13, substitute, after line 2

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§ 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 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, (ii) use if the game's pay-out liabilities exceed its cash on hand, or (iii) enhancement of the prize pool with income derived from lending securities held for payment of prize installments, which lending of securities shall be conducted in accordance with lending programs approved by the Department of the Treasury.

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. In addition to such other funds as may be appropriated, 100 percent of the lottery revenues transferred to the general fund shall be appropriated entirely and solely for the purpose of public education in the Commonwealth, which purposes shall include, but not be limited to, those programs specified in § 22.1-199.1.

Of the lottery revenues transferred to the general fund and appropriated entirely and solely for the purpose of public education in the Commonwealth, such funds shall be deposited in the Virginia Public School Construction Grant Fund as follows: (i) twelve and three-tenths percent shall be deposited in fiscal year 1999; (ii) twelve and four-tenths percent shall be deposited in fiscal year 2000; (iii) fifteen percent shall be deposited in fiscal year 2001; (iv) eighteen percent shall be deposited in fiscal year 2002; (v) twenty-seven percent shall be deposited in fiscal year 2003; (vi) forty percent shall be deposited in fiscal year 2004; (vii) fifty-three percent shall be deposited in fiscal year 2005; (viii) sixty-six and two-thirds percent shall be deposited in fiscal year 2006 and thereafter. Notwithstanding the foregoing, the percentage level of the lottery revenues deposited in the Virginia Public School Construction Grant Fund shall not be increased in any fiscal year (i) until the projection for the sum of general fund revenue and transfers, as contained in the budget bill submitted by the Governor in December, indicates that the amount of revenue growth for the fiscal year is sufficient to pay for 200 percent of the aggregate amount of additional personal property tax relief pursuant to § 58.1-3524 and such additional lottery revenues to be deposited in the Virginia Public School Construction Grant Fund; or (ii) if in any fiscal year the aggregate of the total amount of payments to treasurers for personal property tax relief pursuant to Chapter 35.1 of Title 58.1 and the total lottery revenues to be deposited in the Virginia Public School Construction Grant Fund exceeds the percentage of total general fund revenues available for appropriation established as a limitation upon payments to treasurers in § 58.1-3536.

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.

FLOOR AMENDMENT (REYNOLDS) REJECTED BY SENATE

1. Page 13, substitute, after line 13

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3. For all taxable years beginning on or after January 1, 1999, the State Tax Commissioner shall include in the instructions for the preparation of the Virginia Individual Income Tax return the percentage of the local tangible personal property tax which was paid to the locality on behalf of the taxpayer by the Commonwealth of Virginia.

FLOOR AMENDMENTS (SASLAW) REJECTED BY SENATE

1. Page 11, substitute, line 39, after total of

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eight and one-half

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seven

2. Page 11, substitute, line 43, after exceed such

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eight and one-half

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seven

3. Page 11, substitute, line 47, after exceed such

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eight and one-half

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seven