ENGROSSED
Senate Bill No. 449
(By Senators Tomblin, Mr. President, and Sprouse,
By Request of the Executive)
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[Introduced February 5, 2003; referred to the Committee on
Finance.]
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A BILL to amend article twenty-two, chapter twenty-nine of the code
of West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
eighteen-c, relating to transfers of unappropriated net profit
between state lottery fund and state excess lottery fund.
Be it enacted by the Legislature of West Virginia:
That article twenty-two, chapter twenty-nine of the code of
West Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
eighteen-c, to read as follows:
ARTICLE 22. STATE LOTTERY ACT.
§29-22-18c. Transfer of surplus net profits.
(a) In any fiscal year when an unappropriated surplus is
realized in the state lottery fund created by section eighteen of
this article, the cabinet secretary of the department in which the lottery commission is located shall authorize the transfer of an
amount of the surplus net profit from the state lottery fund to the
state excess lottery fund created in section eighteen-a of this
article as will offset a real or anticipated deficit in the state
excess lottery fund for that fiscal year.
(b) In any fiscal year when an unappropriated surplus is
realized in the state excess lottery fund created by section
eighteen-a of this article, the cabinet secretary of the department
in which the lottery commission is located shall authorize the
transfer of an amount of the surplus net profit from the state
excess lottery fund to the state lottery fund created in section
eighteen of this article as will offset a real or anticipated
deficit in the state lottery fund for that fiscal year before
transferring any money from the state excess lottery fund to the
separate account in the state lottery pursuant to subsection (f),
section eighteen-a of this article.
(c) Construction. -- In the event of any conflict between
language in this section and language in any other section of this
code, the language of this section is controlling.
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