This bill aims to amend and reenact specific sections of the Code of West Virginia related to the distribution of revenues from lottery activities. It seeks to restore the allocation to the West Virginia Infrastructure Fund and the Racetrack Modernization Fund to the rates established in 2013. 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 made on a pro rata basis.

Key changes include the deletion of provisions that previously set varying deposit amounts to the West Virginia Infrastructure Fund for fiscal years 2014 through 2016, which are replaced with a consistent deposit of $40 million starting in fiscal year 2024. Furthermore, the bill repeals several sections related to the distribution of net terminal income and adjusted gross receipts from the excess lottery fund, thereby streamlining the distribution process and aligning it with the proposed changes.

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