CHAPTER 16. ALLOCATION OF REVENUES AND EXPENDITURE OF FUNDS
IC 4-30-16
Chapter 16. Allocation of Revenues and Expenditure of Funds
IC 4-30-16-1
Administrative trust fund; uses
Sec. 1. The money in the administrative trust fund shall be used
for the following:
(1) To pay prizes.
(2) To pay the expenses for the operation of the lottery,
including setting aside an amount determined by the
commission to be necessary for the cash flow needs of the
commission. These expenses include all costs incurred in the
operation and administration of the lottery and all costs
resulting from any contracts entered into for the purchase or
lease of goods and services required by the lottery, including
the following:
(A) The compensation paid to retailers.
(B) The costs of supplies, materials, tickets, independent
audit services, independent studies, data transmission,
advertising, promotion, incentives, public relations,
communications, security, bonding for retailers, printing,
distribution of tickets, and reimbursing other governmental
entities for services provided to the lottery.
(C) The costs of any other goods and services necessary for
carrying out this article.
(3) To make transfers of the revenue remaining after making the
payments necessary under subdivisions (1) and (2) (referred to
as "surplus revenue" in this article) to the treasurer of state for
deposit as provided in this chapter.
As added by P.L.341-1989(ss), SEC.1. Amended by P.L.32-1990,
SEC.10.
IC 4-30-16-2
Reserved
IC 4-30-16-3
Administrative trust fund; transfer of surplus revenue
Sec. 3. (a) The commission shall transfer the surplus revenue in
the administrative trust fund as follows:
(1) Before the last business day of January, April, July, and
October, the commission shall transfer to the treasurer of state,
for deposit in the Indiana state teachers' retirement fund (IC
5-10.4-2), seven million five hundred thousand dollars
($7,500,000). Notwithstanding any other law, including any
appropriations law resulting from a budget bill (as defined in
IC 4-12-1-2), the money transferred under this subdivision shall
be set aside in the pension stabilization fund (IC 5-10.4-2-5) to
be used as a credit against the unfunded accrued liability of the
pre-1996 account (as defined in IC 5-10.4-1-12) of the Indiana
state teachers' retirement fund. The money transferred is in
addition to the appropriation needed to pay benefits for the state
fiscal year.
(2) Before the last business day of January, April, July, and
October, the commission shall transfer seven million five
hundred thousand dollars ($7,500,000) of the surplus revenue
to the treasurer of state for deposit in the pension relief fund (IC
5-10.3-11).
(3) The surplus revenue remaining in the fund on the last day of
January, April, July, and October after the transfers under
subdivisions (1) and (2) shall be transferred by the commission
to the treasurer of state for deposit on that day in the build
Indiana fund.
(b) The commission may make transfers to the treasurer of state
more frequently than required by subsection (a). However, the
number of transfers does not affect the amount that is required to be
transferred for the purposes listed in subsection (a)(1) and (a)(2).
Any amount transferred during the month in excess of the amount
required to be transferred for the purposes listed in subsection (a)(1)
and (a)(2) shall be transferred to the build Indiana fund.
As added by P.L.341-1989(ss), SEC.1. Amended by P.L.32-1990,
SEC.11; P.L.33-1990, SEC.1; P.L.240-1991(ss2), SEC.44;
P.L.25-1995, SEC.3; P.L.273-1999, SEC.49; P.L.224-2003, SEC.41;
P.L.246-2005, SEC.45; P.L.2-2006, SEC.7; P.L.146-2008, SEC.16.