Bill Summary for H 817 (2011-2012)
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Summary date:
Apr 7 2011
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO LIMIT ADMINISTRATIVE EXPENSES OF THE STATE LOTTERY TO FOUR PERCENT AND TO PROVIDE THAT UNCLAIMED PRIZE MONEY IS TO BE SPLIT AMONG ALL LOCAL EDUCATION AGENCIES ON AN ADM BASIS TO BE USED ONLY FOR SCHOOL SUPPLIES AND TEXTBOOKS.Intro. by McElraft, Justice, Hurley.
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Bill summary
Amends GS 18C-162(c) to provide that unclaimed prize money will be held separate and apart from other lottery revenues and distributed quarterly to local school administrative units on an average daily membership basis to be used only for school supplies and textbooks. Specifies that charter schools may share the funds. Deletes current allocation formula.
Amends GS 18C-163(1), clarifying that lottery expenses may include operation and administrative costs not to exceed 4% of total annual revenue (currently, no cap).
Effective July 1, 2011.