COMMITTEE SUBSTITUTE
FOR
H. B. 2608
(By Delegates Doyle and Manuel)
(Originating in the Committee on Finance)
[March 28, 1997]
A BILL to amend and reenact section ten-a, article twenty-two-a,
chapter twenty-nine of the code of West Virginia, one thousand
nine hundred thirty-one, as amended, relating to deposit of
revenues of video lottery net terminal income.
Be it enacted by the Legislature of West Virginia:
That section ten-a, article twenty-two-a, chapter twenty-nine
of the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be amended and reenacted to read as follows:
ARTICLE 22A. RACETRACK VIDEO LOTTERY.
§29-22A-10a. Lottery commission income to be deposited in state
lottery fund.
Notwithstanding the provisions of subdivision one, subsection
(c), section ten of this article, beginning on the first day of
July, one thousand nine hundred ninety-five and continuing
thereafter, the net terminal income received by the commission shall be paid into the state lottery fund created by section
eighteen, article twenty-two of this chapter., to be After
fulfilling the provisions of subsections (h) and (I), section
eighteen, article twenty-two of this chapter, an amount equal to
four percent of the net terminal income from those thoroughbred
racetracks at which the licensee has participated in the West
Virginia thoroughbred development fund created pursuant to section
thirteen-b, article twenty-three, chapter nineteen of this code,
for a period of more than four consecutive calendar years prior to
the thirty-first day of December, one thousand nine hundred ninety- two, shall be paid from lottery net profits into the thoroughbred
development fund. The remainder shall be appropriated by the
Legislature: Provided, That income deposited pursuant to this
section shall not be subject to the provisions of subsections (b),
(c), (d) or (e), or otherwise expended in accordance with the
provisions of section eighteen, article twenty-two of this chapter.