Text: HF02126 Text: HF02128 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 8.22A, subsection 5, paragraph a, Code 1 2 1997, is amended to read as follows: 1 3 a. The amount of lottery revenues for the following fiscal 1 4 year to beavailable for disbursementtransferred from the 1 5 lottery fund to the capital investment fund following the 1 6 deductions made pursuant to section 99E.10, subsection 1. 1 7 Sec. 2. Section 99E.10, subsection 1, unnumbered paragraph 1 8 3, Code Supplement 1997, is amended to read as follows: 1 9The committing the lottery to environment, agriculture, and1 10natural resources fund, also to be known as the CLEAN fund,A 1 11 capital investment fund is created in the office of the 1 12 treasurer of state. Lottery revenue remaining after expenses 1 13 are determined shall be transferred to theCLEANcapital 1 14 investment fund on a monthly basis. Revenues generated during 1 15 the last month of the fiscal year which are transferred to the 1 16CLEANcapital investment fund during the following fiscal year 1 17 shall be considered revenues transferred during the previous 1 18 fiscal yearfor purposes of the allotments made to and1 19appropriations made from the separate accounts in the CLEAN1 20fund for that previous fiscal year. However, upon the request 1 21 of the director and subject to approval by the treasurer of 1 22 state, an amount sufficient to cover the foreseeable 1 23 administrative expenses of the lottery for a period of twenty- 1 24 one days may be retained from the lottery revenue. Prior to 1 25 the monthly transfer to theCLEANcapital investment fund, the 1 26 director may direct that lottery revenue shall be deposited in 1 27 the lottery fund and in interest-bearing accounts designated 1 28 by the treasurer of state in the financial institutions of 1 29 this state or invested in the manner provided in section 1 30 12B.10. Interest or earnings paid on the deposits or 1 31 investments is considered lottery revenue and shall be 1 32 transferred to theCLEANcapital investment fund in the same 1 33 manner as other lottery revenue. Money in theCLEANcapital 1 34 investment fund shall be deposited in interest-bearing 1 35 accounts in financial institutions in this state or invested 2 1 in the manner provided in section 12B.10. The interest or 2 2 earnings on the deposits or investments shall be considered 2 3 part of theCLEANcapital investment fund and shall be 2 4 retained in the fund unless appropriated by the general 2 5 assembly. 2 6 Sec. 3. Section 99E.10, subsection 2, Code Supplement 2 7 1997, is amended to read as follows: 2 8 2. The director of the department of management shall not 2 9 include lottery revenues in the director's fiscal year revenue 2 10 estimates.Moneys in the CLEAN fund shall not be considered a2 11part of the Iowa economic emergency fund.2 12 Sec. 4. Section 99E.10, Code Supplement 1997, is amended 2 13 by adding the following new subsection: 2 14 NEW SUBSECTION. 3. Moneys in the capital investment fund 2 15 shall be appropriated by the general assembly for use for 2 16 capital projects which are not vertical infrastructure 2 17 projects as defined in section 8.57, subsection 5, and which 2 18 are projects that will be completed within three years from 2 19 the beginning of the project. 2 20 Sec. 5. Section 99E.20, subsection 2, Code 1997, is 2 21 amended to read as follows: 2 22 2. A lottery fund is created in the office of the 2 23 treasurer of state. The fund consists of all revenues 2 24 received from the sale of lottery tickets or shares and all 2 25 other moneys lawfully credited or transferred to the fund. 2 26 The commissioner shall certify monthly that portion of the 2 27 fund that is transferred to theCLEANcapital investment fund 2 28 under section 99E.10 and shall cause that portion to be 2 29 transferred to theCLEANcapital investment fundof the state. 2 30 The commissioner shall certify before the twentieth of each 2 31 month that portion of the lottery fund resulting from the 2 32 previous month's sales to be transferred to theCLEANcapital 2 33 investment fund. 2 34 Sec. 6. Section 99E.34, Code 1997, is repealed. 2 35 EXPLANATION 3 1 The bill repeals provisions relating to the committing the 3 2 lottery to environment, agriculture, and natural resources 3 3 (CLEAN) fund and to the deposit of lottery proceeds into that 3 4 fund. The bill instead provides for deposit of the lottery 3 5 proceeds into a capital investment fund. Moneys in this fund 3 6 must be appropriated by the general assembly for capital 3 7 projects which are not vertical infrastructure projects as 3 8 defined for purposes of the rebuild Iowa infrastructure fund 3 9 and which will be completed within three years of the 3 10 beginning of work on the capital project. 3 11 LSB 3339YH 77 3 12 mg/jl/8
Text: HF02126 Text: HF02128 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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