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SB505 SUB1 Senate Bill 505 History

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Key: Green = existing Code. Red = new code to be enacted
COMMITTEE SUBSTITUTE

FOR

Senate Bill No. 505

(By Senators Tomblin, Mr. President, Hunter, Foster, Love, Kessler, Boley, McKenzie, Jenkins, Plymale, Wells, Unger, Minard, Bailey, Sypolt and Edgell)

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[Originating in the Committee on Military;

reported February 8, 2008.]

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A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §9A-1-11a; and to amend and reenact §29-22-9a of said code, all relating to authorizing creation of the Veterans Cemetery Fund to be funded from a portion of the proceeds from the veterans instant lottery scratch-off game.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §9A-1-11a; and that §29-22-9a of said code be amended and reenacted, all to read as follows:
CHAPTER 9A. VETERANS' AFFAIRS.

ARTICLE 1. DIVISION OF VETERANS' AFFAIRS.
§9A-1-11a. Establishment of Veterans Cemetery Fund.
There is hereby created in the State Treasury a special revenue fund to be designated and known as the Veterans Cemetery Fund which shall consist of revenues derived from the veterans instant lottery scratch-off game, any appropriations to the fund by the Legislature and all interest or other returns earned from investment of the fund. Funds may also be derived from any gift, grant, bequest, endowed fund or donation which may be received by any veterans cemetery created by statute from any governmental entity or unit or any person, firm, foundation or corporation. Any balance, including accrued interest or other earnings, in this special fund at the end of any fiscal year shall not revert to the General Revenue Fund but shall remain in the fund.
CHAPTER 22. MISCELLANEOUS BOARDS AND OFFICERS.

ARTICLE 22. STATE LOTTERY ACT.
§29-22-9a. Veterans instant lottery scratch-off game.
(a) Beginning the first day of September, two thousand, the commission shall establish an instant lottery scratch-off game designated as the veterans benefit game, which is offered by the lottery.
(b) Notwithstanding the provisions of section eighteen of this article, all net profits received from the sale of veterans benefit game lottery tickets, materials and games are deposited with the State Treasurer into the Veterans Lottery Fund created under subsection (c) of this section. The Legislature may make appropriations from this fund for operational costs from moneys remaining in the Veterans Lottery Fund after the acquisition, design, construction, equipping, furnishing, including, without limitation, the payment of debt service on bonds issued to finance the foregoing, have been paid. Funds from the Veterans Lottery Fund for the acquisition, design, construction, equipping, furnishing, including, without limitation, the payment of debt service on bonds issued to finance the construction of a veterans cemetery and/or veterans nursing home shall be transferred to the Veterans Cemetery and Nursing Home Building Fund upon written request of the Director of the Division of Veterans Affairs to the investment management board and the State Treasurer in accordance with the provisions of this section. Once the payment of the principal and interest, any required operational costs and architectural and other project costs associated with construction are paid in full for the construction and operation of the initial veterans cemetery or skilled nursing facility, the Legislature may appropriate from the fund created under this section moneys for the construction, including the architectural fees and other associated costs, equipping and operation of additional cemeteries and/ or skilled nursing facilities for veterans of the Armed Forces of the United States military: Provided, That after in addition to the payment of the above-mentioned items, funds may be deposited in the veterans cemetery fund created in section eleven-a, article one, chapter nine-a of this code and thereafter the Legislature may appropriate any excess funds to the General Revenue Fund.
(c) There is hereby created in the State Treasury a special revenue fund designated and known as the Veterans Lottery Fund which shall consist of all revenues derived from the veterans benefit game and any appropriations to the fund by the Legislature and all interest or other returns earned from investment of the fund.
(d) There is hereby created in the State Treasury a special revenue fund designated and known as the Veterans Cemetery and Nursing Home Building Fund which shall consist of all funds for the acquisition, design, construction, equipping, furnishing, including, without limitation, the payment of debt service on bonds issued to finance the foregoing. Following the selection of the architect, the director shall certify the estimated total cost of the architect and all construction and associated costs to the Joint Committee on Government and Finance prior to the transfer of funds for construction. If funds transferred exceed the estimated costs certified to the joint committee, the director shall certify the additional costs to the joint committee.
(e) There is hereby created in the State Treasury a special revenue fund designated and known as the Veterans Cemetery and Nursing Home Debt Service Fund to which the required funding from the Veterans Cemetery and Nursing Home Building Fund is transferred to refund revenue bonds to pay the principal, interest, redemption premium and coverage ratio requirement, if any, on the revenue bonds issued under the provisions of section seven, article twenty-nine-a, chapter sixteen of this code. The Veterans Cemetery and Nursing Home Debt Service Fund has first priority to all funds in the Veterans Cemetery and Nursing Home Building Fund established herein not otherwise designated or specified by the donor. Beginning on or before the twenty-eighth day of July, two thousand three, and continuing until the twenty-eighth day of June, two thousand thirty-five, the treasurer shall allocate to the Veterans Cemetery and Nursing Home Debt Service Fund from the Veterans Cemetery and Nursing Home Building Fund, as a first priority, an amount equal to one tenth of the projected annual principal, interest, redemption premium and coverage ratio requirement on any and all revenue bonds and refunding bonds issued, or to be issued, on or after the first day of July, two thousand three, under the provisions of said section in connection with a veterans cemetery and nursing home as certified to the treasurer and the investment management board by the Director of the Division of Veterans Affairs. In the event there are insufficient funds available in any month to transfer the amount required pursuant to this subsection to the Veterans Cemetery and Nursing Home Debt Service Fund, the deficiency shall be added to the amount transferred in the next succeeding month in which revenues are available to transfer the deficiency.
(f) The commission shall change the design or theme of the veterans benefit game regularly so that the game remains competitive with the other instant lottery scratch-off games offered by the commission. The tickets for the instant lottery game created in this section shall clearly state that the profits derived from the game are being used to benefit veterans in this state.


NOTE: The purpose of this bill is create a Veterans Cemetery Fund which will fund the construction and operation of a veterans cemetery. The moneys deposited in the fund will come from the veterans instant lottery scratch-off game.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.

§9A-1-11a is new; therefore, strike-throughs and underscoring have been omitted.
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