Print Friendly SENATE BILL NO. 1290 – Lottery money/school dist bldg acct
SENATE BILL NO. 1290
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LOTTERY MONEYS - Amends existing law to provide that the State Lottery
shall transfer its net income to the School District Building Account and
to delete archaic language regarding the construction of a Vietnam
01/16 Senate intro - 1st rdg - to printing
01/19 Rpt prt - to St Aff
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fourth Legislature Second Regular Session - 1998
IN THE SENATE
SENATE BILL NO. 1290
1 AN ACT
2 RELATING TO THE STATE LOTTERY; AMENDING SECTION 67-7434, IDAHO CODE, TO PRO-
3 VIDE THAT THE STATE LOTTERY SHALL TRANSFER ITS NET INCOME TO THE SCHOOL
4 DISTRICT BUILDING ACCOUNT AND TO DELETE ARCHAIC LANGUAGE REGARDING THE
5 CONSTRUCTION OF A VIETNAM VETERANS MEMORIAL.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 67-7434, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 67-7434. LOTTERY DIVIDENDS. Annually, on July 1, the lottery shall trans-
10 fer one-half (1/2) of its net income to the permanent building account
11 and one-half (1/2) of its net income to the school district building
12 account, after reserving sufficient moneys to ensure the continuation of the
13 lottery, as determined by the director and commission.
14 A one (1) time allotment of two hundred thousand dollars ($200,000)
15 of the lottery's first year dividends shall be allocated and used by the per-
16 manent building fund advisory council for the construction of a Vietnam vet-
17 erans memorial in the state.
STATEMENT OF PURPOSE
This measure would give the income from the Idaho State
lottery wholly to the school districts to be used for
building, maintenance and repair of school buildings.
The distribution of lottery revenues to the schools would
double. In FY 1997 the total distribution would have been $20.0
million instead of $10.0 million; in FY 1998 total lottery
revenues are estimated to be $19.5 million. The income to the
Permanent Building Fund would decrease by $9-10 million per
CONTACT': Sen. Stennett
STATEMENT OF PURPOSE/FISCAL NOTE
Bill No S1290