HF 1284

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to state government; dedicating certain 
  1.3             lottery proceeds to support of arts and amateur 
  1.4             sports; amending Minnesota Statutes 2000, section 
  1.5             349A.10, subdivision 5; proposing coding for new law 
  1.6             in Minnesota Statutes, chapters 129D and 240A. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [129D.17] [ARTS FUND.] 
  1.9      The arts fund consists of lottery proceeds credited as 
  1.10  provided in section 349A.10, subdivision 5.  Money in the fund 
  1.11  may be spent, as appropriated by law, for support of the arts. 
  1.12     Sec. 2.  [240A.13] [AMATEUR SPORTS FUND.] 
  1.13     The amateur sports fund consists of lottery proceeds 
  1.14  credited as provided in section 349A.10, subdivision 5.  Money 
  1.15  in the fund may be spent, as appropriated by law, for amateur 
  1.16  sports facilities and activities. 
  1.17     Sec. 3.  Minnesota Statutes 2000, section 349A.10, 
  1.18  subdivision 5, is amended to read: 
  1.19     Subd. 5.  [DEPOSIT OF NET PROCEEDS.] Within 30 days after 
  1.20  the end of each month, the director shall deposit in the state 
  1.21  treasury the net proceeds of the lottery, which is the balance 
  1.22  in the lottery fund after transfers to the lottery prize fund 
  1.23  and credits to the lottery operations account.  Of the net 
  1.24  proceeds,:  (1) 40 percent must be credited to the Minnesota 
  1.25  environment and natural resources trust fund, and during any 
  1.26  period in which bonds are issued and outstanding under section 
  2.1   16A.67, the remainder must be credited to the special revenue 
  2.2   fund created in section 16A.67, subdivision 3, provided that if 
  2.3   bonds are not issued and outstanding under section 16A.67, such 
  2.4   remainder must be credited to the general fund.  Money credited 
  2.5   to the special revenue fund must be transferred to the debt 
  2.6   service fund established in section 16A.67, subdivision 4, at 
  2.7   the times and in the amounts determined by the commissioner of 
  2.8   finance to be necessary to provide for the payment and security 
  2.9   of bonds issued pursuant to section 16A.67.  On or before the 
  2.10  tenth day of each month, any money in the special revenue fund 
  2.11  not required to be transferred to the debt service fund must be 
  2.12  transferred to the general fund; (2) 30 percent must be credited 
  2.13  to the arts fund created in section 129D.17; and (3) 30 percent 
  2.14  must be credited to the amateur sports fund created in section 
  2.15  240A.13. 
  2.16     Sec. 4.  [EFFECTIVE DATE.] 
  2.17     Sections 1 to 3 are effective July 1, 2001.