58.1-4022.1 - Lottery Proceeds Fund. - Virginia Statutes

§ 58.1-4022.1. Lottery Proceeds Fund.

A. There is hereby created in the state treasury a special nonreverting fundto be known as the Lottery Proceeds Fund, hereafter referred to as the"Fund." The Fund shall be established on the books of the Comptroller andinterest earned on moneys in the Fund shall remain in the Fund and becredited to it. Any moneys remaining in the Fund, including interest thereon,at the end of each fiscal year shall not revert to the general fund but shallremain in the Fund. The Fund shall consist of amounts deposited into it fromthe net revenues of any lottery conducted by the Commonwealth pursuant toArticle X, Section 7-A of the Constitution of Virginia.

B. For purposes of any appropriation act enacted by the General Assembly andfor the purposes of the Comptroller's preliminary and final annual reportsrequired by § 2.2-813, all deposits to and appropriations from the LotteryProceeds Fund shall be accounted for and considered to be a part of thegeneral fund of the state treasury.

(2000, cc. 622, 713; 2002, cc. 829, 866.)