House Journal: Page 1438: Friday, April 25, 2003
Page 55
1 following shall be deducted from the authority's
2 revenue prior to disbursement:
3 a. An amount equal to three-tenths of one percent
4 of the gross lottery revenue for the year shall be
5 deposited in a gambling treatment fund in the office
6 of the treasurer of state.
7 b. The expenses of conducting the lottery.
8 Expenses for advertising production and media
9 purchases shall not exceed four percent of the
10 authority's gross revenue for the year.
11 2. The director of management shall not include
12 lottery revenues in the director's fiscal year revenue
13 estimates.
14 3. a. Notwithstanding subsection 1, if gaming
15 revenues under sections 99D.17 and 99F.11 are
16 insufficient in a fiscal year to meet the total amount
17 of such revenues directed to be deposited in the
18 vision Iowa fund and the school infrastructure fund
19 during the fiscal year pursuant to section 8.57,
20 subsection 5, paragraph "e", the difference shall be
21 paid from lottery revenues prior to deposit of the
22 lottery revenues in the general fund. If lottery
23 revenues are insufficient during the fiscal year to
24 pay the difference, the remaining difference shall be
25 paid from lottery revenues in subsequent fiscal years
26 as such revenues become available.
27 b. The treasurer of state shall, each quarter,
28 prepare an estimate of the gaming revenues and lottery
29 revenues that will become available during the
30 remainder of the appropriate fiscal year for the
31 purposes described in paragraph "a". The department
32 of management and the department of revenue and
33 finance shall take appropriate actions to provide that
34 the amount of gaming revenues and lottery revenues
35 that will be available during the remainder of the
36 appropriate fiscal year is sufficient to cover any
37 anticipated deficiencies.
38 Sec. 93. NEW SECTION. 99G.40 AUDITS AND REPORTS
39 - LOTTERY FUND.
40 1. To ensure the financial integrity of the
41 lottery, the authority shall do all of the following:
42 a. Submit quarterly and annual reports to the
43 governor, state auditor, and the general assembly
44 disclosing the total lottery revenues, prize
45 disbursements, and other expenses of the authority
46 during the reporting period. The fourth quarter
47 report shall be included in the annual report made
48 pursuant to this section. The annual report shall
49 include a complete statement of lottery revenues,
50 prize disbursements, and other expenses, and
© 2003 Cornell College and
League of Women Voters of Iowa
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