SB3514 Engrossed LRB096 18423 HLH 33801 b

1     AN ACT concerning finance.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Lottery Law is amended by changing
5 Section 20 as follows:
 
6     (20 ILCS 1605/20)  (from Ch. 120, par. 1170)
7     Sec. 20. State Lottery Fund.
8     (a) There is created in the State Treasury a special fund
9 to be known as the "State Lottery Fund". Such fund shall
10 consist of all revenues received from (1) the sale of lottery
11 tickets or shares, (net of commissions, fees representing those
12 expenses that are directly proportionate to the sale of tickets
13 or shares at the agent location, and prizes of less than $600
14 which have been validly paid at the agent level), (2)
15 application fees, and (3) all other sources including moneys
16 credited or transferred thereto from any other fund or source
17 pursuant to law. Interest earnings of the State Lottery Fund
18 shall be credited to the Common School Fund.
19     (a-5) If for any reason the General Assembly fails to make
20 appropriations of amounts sufficient from the State Lottery
21 Fund to the Department for payment of prizes to holders of
22 winning lottery tickets or shares, including prizes related to
23 Multi-State Lottery games, and payment of promotional or

 

 

SB3514 Engrossed - 2 - LRB096 18423 HLH 33801 b

1 incentive prizes associated with the sale of lottery tickets,
2 pursuant to the provisions of this Law, then this subsection
3 constitutes an irrevocable and continuing appropriation of all
4 amounts necessary for that purpose, and the irrevocable and
5 continuing authority for and direction to the Comptroller and
6 to the Treasurer of the State to make the necessary transfers
7 out of and disbursements from the State Lottery Fund for that
8 purpose.
9     (b) The receipt and distribution of moneys under Section
10 21.5 of this Act shall be in accordance with Section 21.5.
11     (c) The receipt and distribution of moneys under Section
12 21.6 of this Act shall be in accordance with Section 21.6.
13     (d) The receipt and distribution of moneys under Section
14 21.7 of this Act shall be in accordance with Section 21.7.
15     (e) The receipt and distribution of moneys under Section
16 21.8 of this Act shall be in accordance with Section 21.8.
17 (Source: P.A. 94-120, eff. 7-6-05; 94-585, eff. 8-15-05;
18 95-331, eff. 8-21-07; 95-673, eff. 10-11-07; 95-674, eff.
19 10-11-07; 95-876, eff. 8-21-08.)
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.