Text: S05254 Text: S05256 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 2376 as follows: 1 2 #1. Page 1, by inserting after line 20 the 1 3 following: 1 4 "Sec. ___. Section 99E.10, subsection 1, 1 5 unnumbered paragraph 1, Code Supplement 1997, is 1 6 amended to read as follows: 1 7 Upon receipt of any revenue, the commissioner shall 1 8 deposit the moneys in the lottery fund created 1 9 pursuant to section 99E.20. As nearly as is 1 10 practicable, at leastfiftyninety percent of the 1 11 projected annual revenue, after deduction of the 1 12 amount of the sales tax, accruing from the sale of 1 13 tickets or shares is appropriated for payment of 1 14 prizes to the holders of winning tickets. After the 1 15 payment of prizes, all of the following shall be 1 16 deducted from lottery revenue prior to disbursement: 1 17 Sec. ___. APPLICABILITY. The payout requirement 1 18 of at least ninety percent of the projected annual 1 19 revenue after the deduction of the amount of sales tax 1 20 shall not apply to multi-state games operated under a 1 21 contract or agreement which is in effect on the 1 22 effective date of this Act. The multi-state games 1 23 operating under an existing contract or agreement 1 24 shall have a payout of at least fifty percent of the 1 25 projected annual revenue after the deduction of the 1 26 amount of the sales tax." 1 27 1 28 1 29 1 30 WILLIAM D. PALMER 1 31 SF 2376.701 77 1 32 tj/sc/28
Text: S05254 Text: S05256 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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