Bill Text: GA HB363 | 2011-2012 | Regular Session | Introduced

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Bill Title: Georgia Lottery Corporation; net proceeds equal 35 percent of lottery proceeds; require

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-03-01 - House Second Readers [HB363 Detail]

Download: Georgia-2011-HB363-Introduced.html

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11 LC 28 5556

House Bill 363

By: Representative Dollar of the 45th

A BILL TO BE ENTITLED
AN ACT

To amend Article 1 of Chapter 27 of Title 50 of the Official Code of Georgia Annotated, relating to general provisions regarding the lottery, so as to require the net proceeds of the Georgia Lottery Corporation to equal at least 35 percent of the lottery proceeds each fiscal year; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 1 of Chapter 27 of Title 50 of the Official Code of Georgia Annotated, relating to general provisions regarding the lottery, is amended by revising subsection (a) of Code Section 50-27-13, relating to disposition of lottery proceeds, as follows:

"(a)(1) All lottery proceeds shall be the property of the corporation.

(2) From its lottery proceeds the corporation shall pay the operating expenses of the corporation. As nearly as practical, at least 45 percent of the amount of money from the actual sale of lottery tickets or shares shall be made available as prize money; provided, however, that this paragraph shall be deemed not to create any lien, entitlement, cause of action, or other private right, and any rights of holders of tickets or shares shall be determined by the corporation in setting the terms of its lottery or lotteries.

(3) As nearly as practical, for For each fiscal year, net proceeds shall equal at least 35 percent of the lottery proceeds. However, for the first two full fiscal years and any partial first fiscal year of the corporation, net proceeds need only equal 30 percent of the proceeds as nearly as practical."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.