This bill aims to amend the Code of West Virginia by restoring various financial distributions related to lottery revenues to their 2013 levels. Specifically, it seeks to reinstate the allocation to the West Virginia Infrastructure Fund and the amount transferred to the Racetrack Modernization Fund to 2013 rates. Additionally, the bill proposes to decrease the funds available for grants from the Infrastructure Fund and eliminate certain statutory distributions to the State Excess Lottery Revenue Fund. It also aims to restore statutory distributions to capital reinvestment, purse funds, and development funds to their 2013 levels while removing the authorization for distributions to be paid on a pro rata basis.

The bill includes specific changes to the allocation amounts, such as a deposit of $40 million into the West Virginia Infrastructure Fund for the fiscal year beginning July 1, 2024, and outlines the elimination of several sections related to the distribution of net terminal income and adjusted gross receipts from the excess lottery fund. The repealed sections include 29-22A-10d, 29-22A-10e, 29-22A-10f, 29-22C-27a, and 29-25-22b, which pertain to changes in distribution practices that are no longer deemed necessary under the proposed legislation.

Statutes affected:
Introduced Version: 29-22-18d, 29-22A-10d, 29-22A-10e, 29-22A-10f, 29-22C-27a, 29-25-22b