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ID H0478
Bill
Status
4/4/2014
Primary Sponsor
Education Committee
Click for details
AI Summary
House Bill 478 Summary
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Removes the September 30, 2014 sunset provision from lottery net income distribution rules that began July 1, 2009, making the three-eighths/three-eighths/one-fourth split to permanent building account, school district building account, and bond levy equalization fund permanent.
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Maintains minimum distribution guarantees to permanent building account and school district building account at fiscal year 2008 levels, with adjustments made first to the bond levy equalization fund if available funds fall below that threshold.
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Corrects code references in Section 63-2520 (tax distribution provisions) from section 67-7434(21) to section 67-7434(2) regarding bond levy equalization fund distributions.
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Repeals the old versions of Sections 67-7434 and 63-2520 effective July 1, 2019, and replaces them with new codified sections containing the same revised language, with interim amendments effective July 1, 2014.
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Establishes a five-year transition period with amended provisions in effect from July 1, 2014 until July 1, 2019, when the permanently codified sections take effect.
Legislative Description
Amends, repeals and adds to existing law relating to the Idaho State Lottery to revise provisions relating to the distribution of net income and to remove a sunset provision; to establish provisions relating to lottery dividends; and to establish provisions relating to the distribution of certain moneys collected.
IDAHO LOTTERY
Last Action
Reported Signed by Governor on April 4, 2014 Session Law Chapter 337 Effective: 07/01/2014 Sections 1 and 2; 07/01/2019 Sections 3, 4, 5, and 6
4/4/2014