99G.39 - ALLOCATION, APPROPRIATION, TRANSFER, AND REPORTING OF FUNDS.
99G.39 ALLOCATION, APPROPRIATION, TRANSFER, AND
REPORTING OF FUNDS.
1. Upon receipt of any revenue, the chief executive officer shall
deposit the moneys in the lottery fund created pursuant to section
99G.40. At least fifty percent of the projected annual revenue
accruing from the sale of tickets or shares shall be allocated for
payment of prizes to the holders of winning tickets. After the
payment of prizes, the expenses of conducting the lottery shall be
deducted from the authority's revenue prior to disbursement.
Expenses for advertising production and media purchases shall not
exceed four percent of the authority's gross revenue for the year.
2. The director of management shall not include lottery revenues
in the director's fiscal year revenue estimates.
3. a. Notwithstanding subsection 1, if gaming revenues under
sections 99D.17 and 99F.11 are insufficient in a fiscal year to meet
the total amount of such revenues directed to be deposited in the
vision Iowa fund and the school infrastructure fund during the fiscal
year pursuant to section 8.57, subsection 6, paragraph "e", the
difference shall be paid from lottery revenues prior to deposit of
the lottery revenues in the general fund. If lottery revenues are
insufficient during the fiscal year to pay the difference, the
remaining difference shall be paid from lottery revenues in
subsequent fiscal years as such revenues become available.
b. The treasurer of state shall, each quarter, prepare an
estimate of the gaming revenues and lottery revenues that will become
available during the remainder of the appropriate fiscal year for the
purposes described in paragraph "a". The department of
management and the department of revenue shall take appropriate
actions to provide that the amount of gaming revenues and lottery
revenues that will be available during the remainder of the
appropriate fiscal year is sufficient to cover any anticipated
deficiencies. Section History: Recent Form
2003 Acts, ch 145, § 286; 2003 Acts, ch 178, §92, 121; 2003 Acts,
ch 179, §142; 2004 Acts, ch 1136, §54; 2009 Acts, ch 182, §105
Referred to in § 8.22A, 8.57, 99G.9A
Disposition of funds from lottery games for the benefit of
veterans, see § 99G.9A