Comments: IL SB3531 | 2017-2018 | 100th General Assembly

Bill Title: Amends the Illinois Lottery Law. Requires the Department of the Lottery to deposit any estimated remaining proceeds from the prior fiscal year (rather than any remaining proceeds) after certain payments and transfers are made, into the Capital Projects Fund, on or before September 30 of each fiscal year (rather than on the last day of each fiscal year). Provides that, beginning in fiscal year 2019, the amount deposited shall be increased or decreased each year by the amount the estimated payment differs from the amount determined from each year-end financial audit. Provides that only remaining net deficits from prior fiscal years may reduce the requirement to deposit the funds, as determined by the annual financial audit. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Engrossed) 2018-11-07 - Placed on Calendar 2nd Reading - Short Debate [SB3531 Detail]

Text: Latest bill text (Engrossed) [HTML]

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