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SENATE BILL NO. 1011

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Daily Data Tracking History

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S1011...........................................................by STENNETT
LOTTERY MONEYS - Amends existing law to provide that the State Lottery
shall transfer its net income to the School District Building Account.

01/20    Senate intro - 1st rdg - to printing
01/21    Rpt prt - to St Aff

Bill Text

S1011


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fifth Legislature                 First Regular Session - 1999
                                                                        

                                      IN THE SENATE

                                   SENATE BILL NO. 1011

                                       BY STENNETT

 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

                              RS08530

This measure would provide local school districts with 100
percent of the lottery proceeds to be used for capital improvement
and maintenance.

                            FISCAL NOTE

Approximately $10 million would be added to the local school
districts' funds for maintenance and improvement to facilities.

CONTACT: Senator Clint Stennett
         332-1351
         
                                       STATEMENT OF PURPOSE/ FISCAE NOTE   S1011