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GA SB373
Bill
Status
Introduced
2/10/2014
Primary Sponsor
Ronald Ramsey
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AI Summary
- Net proceeds from the Georgia Lottery must equal at least 35% of lottery proceeds each fiscal year, removing prior qualifiers of "as nearly as practical" and eliminating the reduced 30% threshold for the corporation's first two fiscal years
- Georgia Lottery Corporation CEO must submit quarterly financial reports on lottery revenues and expenses to the legislative oversight committee, in addition to existing reporting to the state auditor, state accounting officer, and board
- Georgia Lottery Corporation board must submit quarterly and annual reports to the oversight committee disclosing total revenues, prize disbursements, operating expenses, and administrative expenses
- Copies of all audits performed by certified public accountants or the state auditor must be transmitted to all oversight committee members, rather than only the committee chairperson
- The Georgia Lottery Corporation Legislative Oversight Committee must meet quarterly to review operations and evaluate the corporation's performance, and shall conduct independent audits or investigations based on those reviews
Legislative Description
"HOPE Chest Act"; enact; require net proceeds equal at least 35 percent of lottery proceeds
Last Action
Senate Read and Referred
2/11/2014
Full Bill Text
No bill text available