Enacts new GS 18C-130.1, Veterans' instant lottery scratch-off game, which requires that the North Carolina State Lottery Commission (Commission) establish an instant lottery scratch-off game called the "North Carolina Veterans' Benefit Game" (Game) as part of the lottery. Provides that all net proceeds from the sales of the Game must be deposited in the Veterans' Lottery Fund (Fund). Establishes the Fund as a special revenue fund within the State treasury, to receive the above proceeds, any appropriations from the General Assembly, and all interest earned by the Fund. Directs net revenues from the North Carolina State Lottery Fund derived from proceeds from the Game to be transferred four times a year to the Fund, after all obligations are met for prizes and expenses.
Amends GS 18C-130(a) to provide that the North Carolina State Lottery Commission must include the Game when determining what lottery games are to be used in the Lottery.
Amends GS 18C-162(c) concerning unclaimed prize money providing that 50% can be allotted to the Fund, if originating from a ticket sold for the Game (previously, only provided for 50% to be allotted to the Education Lottery Fund) with the other 50% used for prize enhancement under GS 18C-162(a)(1).
Amends GS 18C-164, concerning the transfer of net revenues, providing that the General Assembly must appropriate the net revenue of the Fund annually in the Current Operations Appropriations Act for the benefit of homeless veterans. Provides that no security interest is granted in the funds appropriated by these provisions.
Requires the North Carolina State Lottery Commission to establish the Game on or before January 1, 2016.
Status: Ref to the Com on Homeland Security, Military, and Veterans Affairs, if favorable, Finance (House Action) (Mar 24 2015)
Bill H 326 (2015-2016)Summary date: Mar 23 2015 - More information