Senate Bill No. 449
(By Senators Tomblin, Mr. President, and Sprouse,
By Request of the Executive)
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[Introduced February 5, 2003; referred to the Committee on
Finance.]
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A BILL to amend article twenty-two, chapter twenty-nine of the code
of West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
eighteen-c, relating to transfers of unappropriated net profit
between state lottery fund and state excess lottery fund.
Be it enacted by the Legislature of West Virginia:
That article twenty-two, chapter twenty-nine of the code of
West Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
eighteen-c, to read as follows:
ARTICLE 22. STATE LOTTERY ACT.
§29-22-18c. Transfer of surplus net profits.
(a) In any fiscal year when an unappropriated surplus is
realized in the state lottery fund created by section eighteen of
this article, the cabinet secretary of the department in which the
lottery commission is located shall authorize the transfer of so much of the surplus net profit from the state lottery fund to the
state excess lottery fund created in section eighteen-a of this
article as will offset a real or anticipated deficit in the state
excess lottery fund for that fiscal year.
(b) In any fiscal year when an unappropriated surplus is
realized in the state excess lottery fund created by section
eighteen-a of this article, the cabinet secretary of the department
in which the lottery commission is located shall authorize the
transfer of so much of the surplus net profit from the state excess
lottery fund to the state lottery fund created in section eighteen
of this article as will offset a real or anticipated deficit in the
state lottery fund for that fiscal year before transferring any
money from the state excess lottery fund to the separate account in
the state lottery pursuant to the last clause of subsection (f),
section eighteen-a of this article.
(c) Construction. -- In the event there is any conflict
between language in this section and that in any other section of
this code, the language of this section shall control.
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(NOTE: The purpose of this bill is to authorize the secretary
of the department of tax and revenue to authorize the transfer of
unappropriated surplus net profit from the state lottery fund to
the state excess lottery fund, and vice versa, when there is a
shortfall in the other fund.
This section is new; therefore, strike-throughs and
underscoring are omitted.)
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FINANCE COMMITTEE AMENDMENTS
On page two, section eighteen-c, lines one and two, by
striking out the words "so much" and inserting in lieu thereof the
words "an amount";
On page two, section eighteen-c, line ten, by striking out the
words "so much" and inserting in lieu thereof the words "an
amount";
On page two, section eighteen-c, line fifteen, after the word
"to" by striking out the words "the last clause of";
On page two, section eighteen-c, line seventeen, by striking
out the words "there is" and inserting in lieu thereof the word
"of";
On page two, section eighteen-c, line eighteen, by striking
out the word "that" and inserting in lieu thereof the word
"language";
And,
On page two, section eighteen-c, line nineteen, by striking
out the words "shall control" and inserting in lieu thereof the
words "is controlling".