HB3029 FBM
HOUSE COMMITTEE ON FINANCE
COUNSEL: Marsha Morris
FLOOR BOOK MEMO
HB 3029
BY: Delegates Michael, Doyle, Leach, Campbell, Kelley, Proudfoot and Miller
SHORT TITLE: Authorizing the distribution of proceeds from racetrack video lottery.
DATE INTRODUCED: 3/2/99
CODE REFERENCE: WVC § 29-22A-10 Amends and reenacts.
PROPOSED LAW PRESENTED TO THE COMMITTEE:
This section of the code was amended in 1998 to redirect the moneys from the payment of the
veterans memorial to the construction of the parking garage and the repairs for the Morris Square
property.
Current law distributes 1% of the net terminal income (Racetrack Video Lottery) as follows:
$20,000 for veterans grave markers; $100,000 for the repository and maintenance of capitol
monuments; $500,000 to a special fund for the construction and maintenance of a state capitol
complex parking garage and the remainder of this distribution to a special fund for the renovation
and repairs of the Morris Square properties.
Since the Administration has decided to sell the Morris Square property rather than renovate it,
this proposed bill would redirect those Morris Square funds to preservation and restoration of the
state Capitol.
TITLE: Sufficient
FISCAL NOTE: Requested.
EFFECTIVE DATE: 90 days.
COMMITTEE ACTION: Originated in Committee
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