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SENATE BILL NO. 1363

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Daily Data Tracking History

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S1363..........................................................by EDUCATION
LOTTERY MONEYS - Amends existing law to provide that the State Lottery
shall transfer its net income to the School District Building Account.

01/30    Senate intro - 1st rdg - to printing
02/02    Rpt prt - to St Aff

Bill Text

S1363


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                                      IN THE SENATE

                                   SENATE BILL NO. 1363

                                  BY EDUCATION COMMITTEE

 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.

 5    Be It Enacted by the Legislature of the State of Idaho:

 6        SECTION 1.  That Section 67-7434, Idaho Code, be, and the same  is  hereby
 7    amended to read as follows:

 8        67-7434.  LOTTERY DIVIDENDS. Annually, on July 1, the lottery shall trans-
 9    fer    one-half (1/2) of its net income to the permanent building account
10    and one-half (1/2) of  its net income to the  school  district  building
11    account,  after  reserving sufficient moneys to ensure the continuation of the
12    lottery, as determined by the director and commission.
13        A one (1) time allotment of two hundred thousand dollars ($200,000) of the
14    lottery's first year dividends shall be allocated and used  by  the  permanent
15    building  fund  advisory  council  for  the construction of a Vietnam veterans
16    memorial in the state.

Statement of Purpose / Fiscal Impact

    





                            STATEMENT OF PURPOSE
    
                                  RS07706
    
    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.
    
                                FISCAL NOTE
    
    The distribution of lottery revenues to the public schools 
    (K-12) 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 year.
    
    CONTACT: Sen. Stennett
             332-1358
             
    
    STATEMENT OF PURPOSE/FISCAL NOTE
    
    Bill No S1363