Bill Summaries: all (2017-2018 Session)

Tracking:
  • Summary date: Mar 23 2017 - View summary

    Amends GS Chapter 18C, Article 7 (North Carolina State Lottery Fund). Revises the guideline for revenue allocation in GS 18C-162 subsection (a)(4) to allocate up to 7% of total annual revenues (currently, of face value of tickets or shares) for compensation paid to lottery game retailers.

    Requires the net revenues of the North Carolina State Lottery Fund to be transferred periodically (currently, at least four times a year) to the Education Lottery Fund.

    Deletes the provision directing the General Assembly to appropriate remaining funds from the Education Lottery Fund for education purposes. Directs the NC State Lottery Commission to distribute the remaining net revenue of the Education Lottery Fund as follows: 50% to support reduction of class size in early grades to class size allotment not to exceed 1:18, 40% to the Public School Building Capital Fund, and 10% to the State Educational Assistance Authority for college and university scholarships. Directs the General Assembly to appropriate the funds annually based upon estimates of lottery net revenue to the Education Lottery Fund provided by the Office of State Budget and Management and the Fiscal Research Division.

    Provides that if the Education Lottery Reserve Fund is insufficient to cover the difference between the actual net revenues of the Education Lottery Fund and the General Assembly's appropriation, the Governor shall transfer monies from the Education Lottery Reserve Fund in order of priority to (1) support academic pre-kindergarten programs for at-risk four-year-olds, (2) reduce class size, (3) provide financial aid for needy students to attend college, and (4) the Public School Building Capital Fund. Provides that if the net revenues exceed the amounts appropriated, the excess net revenues are split between the Public School Building Capital Fund and the State Educational Assistance Authority.

    Effective July 1, 2017.