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Senate File 311

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 8.22A, subsection 5, paragraph b, Code
  1  2 1997, is amended to read as follows:
  1  3    b.  The amount of revenue for the following fiscal year
  1  4 from gambling revenues and from interest earned on the cash
  1  5 reserve fund and the economic emergency fund to be deposited
  1  6 in the rebuild Iowa infrastructure fund under section 8.57,
  1  7 subsection 5, paragraph "e".
  1  8    Sec. 2.  Section 8.57, subsection 5, paragraph c, Code
  1  9 1997, is amended to read as follows:
  1 10    c.  Moneys in the fund in a fiscal year shall be used as
  1 11 directed by the general assembly for public vertical
  1 12 infrastructure projects having a usable life of over ten
  1 13 years.  For the purposes of this subsection, "vertical
  1 14 infrastructure projects" includes only land acquisition and
  1 15 construction, major renovation and major repair of buildings,
  1 16 all appurtenant structures, utilities, site development, and
  1 17 recreational trails.  "Vertical infrastructure" means one-time
  1 18 projects and does not include routine, recurring maintenance
  1 19 or operational expenses or leasing of a building, appurtenant
  1 20 structure, or utility without a lease-purchase agreement.
  1 21 However, appropriations may be made for the fiscal years
  1 22 beginning July 1, 1997, and July 1, 1998, for the purpose of
  1 23 funding the completion of Part III of the Iowa communications
  1 24 network.
  1 25    Sec. 3.  Section 8.57, subsection 5, paragraph e, Code
  1 26 1997, is amended by striking the paragraph.
  1 27    Sec. 4.  Section 8.60, subsection 1, Code 1997, is amended
  1 28 by striking the subsection.
  1 29    Sec. 5.  Section 99D.7, subsection 2, Code 1997, is amended
  1 30 to read as follows:
  1 31    2.  To identify occupations within the racing industry
  1 32 which require licensing and adopt standards for licensing the
  1 33 occupations including establishing fees for the occupational
  1 34 licenses.  The fees shall be paid to the commission and used
  1 35 as required in section 99D.17 for the purposes of the
  2  1 commission.
  2  2    Sec. 6.  Section 99D.17, Code 1997, is amended to read as
  2  3 follows:
  2  4    99D.17  USE OF FUNDS.
  2  5    Funds received pursuant to sections 99D.14 and 99D.15 shall
  2  6 be deposited in the general fund of the state and shall be
  2  7 subject to the requirements of section 8.60.  These funds
  2  8 shall first be used to the extent appropriated by the general
  2  9 assembly rebuild Iowa infrastructure fund established in
  2 10 section 8.57.  The commission is subject to the budget
  2 11 requirements of chapter 8 and the applicable auditing
  2 12 requirements and procedures of chapter 11.
  2 13    Sec. 7.  Section 99E.10, subsection 1, unnumbered paragraph
  2 14 3, Code 1997, is amended to read as follows:
  2 15    The committing the lottery to environment, agriculture, and
  2 16 natural resources fund, also to be known as the CLEAN fund, is
  2 17 created in the office of the treasurer of state.  Lottery
  2 18 revenue remaining after expenses are determined shall be
  2 19 transferred to the CLEAN rebuild Iowa infrastructure fund
  2 20 established in section 8.57, on a monthly basis.  Revenues
  2 21 generated during the last month of the fiscal year which are
  2 22 transferred to the CLEAN rebuild Iowa infrastructure fund
  2 23 during the following fiscal year shall be considered revenues
  2 24 transferred during the previous fiscal year for purposes of
  2 25 the allotments made to and appropriations made from the
  2 26 separate accounts in the CLEAN rebuild Iowa infrastructure
  2 27 fund for that previous fiscal year.  However, upon the request
  2 28 of the director and subject to approval by the treasurer of
  2 29 state, an amount sufficient to cover the foreseeable
  2 30 administrative expenses of the lottery for a period of twenty-
  2 31 one days may be retained from the lottery revenue.  Prior to
  2 32 the monthly transfer to the CLEAN rebuild Iowa infrastructure
  2 33 fund, the director may direct that lottery revenue shall be
  2 34 deposited in the lottery fund and in interest-bearing accounts
  2 35 designated by the treasurer of state in the financial
  3  1 institutions of this state or invested in the manner provided
  3  2 in section 12B.10.  Interest or earnings paid on the deposits
  3  3 or investments is considered lottery revenue and shall be
  3  4 transferred to the CLEAN rebuild Iowa infrastructure fund in
  3  5 the same manner as other lottery revenue.  Money in the CLEAN
  3  6 fund shall be deposited in interest-bearing accounts in
  3  7 financial institutions in this state or invested in the manner
  3  8 provided in section 12B.10.  The interest or earnings on the
  3  9 deposits or investments shall be considered part of the CLEAN
  3 10 fund and shall be retained in the fund unless appropriated by
  3 11 the general assembly.
  3 12    Sec. 8.  Section 99E.10, subsection 2, Code 1997, is
  3 13 amended by striking the subsection.
  3 14    Sec. 9.  Section 99E.20, subsection 2, Code 1997, is
  3 15 amended to read as follows:
  3 16    2.  A lottery fund is created in the office of the
  3 17 treasurer of state.  The fund consists of all revenues
  3 18 received from the sale of lottery tickets or shares and all
  3 19 other moneys lawfully credited or transferred to the fund.
  3 20 The commissioner shall certify monthly that portion of the
  3 21 fund that is transferred to the CLEAN fund under section
  3 22 99E.10 and shall cause that portion to be transferred to the
  3 23 CLEAN fund of the state rebuild Iowa infrastructure fund
  3 24 established in section 8.57.  The commissioner shall certify
  3 25 before the twentieth of each month that portion of the fund
  3 26 resulting from the previous month's sales to be transferred to
  3 27 the CLEAN rebuild Iowa infrastructure fund.
  3 28    Sec. 10.  Section 99F.11, subsection 4, Code 1997, is
  3 29 amended to read as follows:
  3 30    4.  The remaining amount of the adjusted gross receipts tax
  3 31 shall be credited to the general fund of the state rebuild
  3 32 Iowa infrastructure fund.
  3 33    Sec. 11.  Section 99E.34, Code 1997, is repealed.  
  3 34                           EXPLANATION
  3 35    This bill provides that racing and gaming revenues and
  4  1 gambling adjusted gross receipts tax revenues currently
  4  2 deposited in the general fund of the state and lottery
  4  3 revenues currently deposited in the committing the lottery to
  4  4 environment, agriculture, and natural resources (CLEAN) fund
  4  5 be transferred to the rebuild Iowa infrastructure fund
  4  6 established in section 8.57.  The bill also repeals section
  4  7 99E.34 regarding appropriations from the CLEAN fund.
  4  8 Currently, the first $60 million of racing and gaming revenues
  4  9 from pari-mutuel wagering and excursion boat and racetrack
  4 10 gambling are deposited in the general fund of the state and
  4 11 revenues in excess of that amount are deposited in the rebuild
  4 12 Iowa infrastructure fund.  
  4 13 LSB 1919XS 77
  4 14 mk/jj/8
     
Text: SF00310                           Text: SF00312
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