Sec. 12-573. Certification of balance in betting fund in excess of division needs. Transfer to General Fund.
Sec. 12-573. Certification of balance in betting fund in excess of division needs.
Transfer to General Fund. Until the effective date of transfer of ownership of the off-track betting system, and from time to time the executive director shall estimate, and
certify to the Comptroller, that portion of the balance in the betting fund which is in
excess of the current needs of the division for the payment of prizes and for the payment
of compensation under section 12-572. Upon receipt of any such certification, the
amount so certified shall be transferred from the betting fund to the General Fund.
(1971, P.A. 865, S. 17; 1972, P.A. 187, S. 9; P.A. 79-404, S. 23, 45; P.A. 86-312, S. 6, 21; P.A. 93-332, S. 32, 42.)
History: 1972 act added reference to Subsecs. (c) and (d) of Sec. 12-569; P.A. 79-404 substituted "executive director"
and "division" for "commission" as necessary; P.A. 86-312 required executive director to certify excess balance to comptroller rather than to state treasurer and deleted references to lottery fund to reflect amendment to Sec. 12-568 concerning
said fund; P.A. 93-332 made technical changes in section re operation of the off-track betting system by an authorized
licensee, effective June 25, 1993.