State lottery organization.

05LSO-0173.L1

                                                         

FISCAL NOTE

This bill contains an appropriation of $2,000,000 from the GENERAL FUND. This appropriation is an advance to facilitate establishment of the lottery, and will be repaid from profits as soon as practicable but not later than 1 year after the first prize is paid out.

 

The fiscal impact, in the form of potential revenue increases from lottery ticket sales, is indeterminable.

 

Revenues from lottery ticket sales will be initially deposited into the lottery account, except that 1% of gross revenues will be distributed to the pari-mutuel account. Total disbursements for lottery prizes shall not be less than 45% of total revenue, and sufficient funds to pay prizes are continuously appropriated.

 

10% of total revenue from lottery ticket sales is appropriated to the Pari-mutuel Commission and 20% of total revenue from lottery ticket sales is appropriated to the Wyoming Lottery Corporation. These amounts are appropriated from the lottery account for salaries and administrative expenses necessary to operate the lottery through June 30, 2006.

 

After repayment of the $2 million appropriation, the State Treasurer will annually transfer revenues in excess of expenses, prizes and reserves as follows:

  1. 50% of the first $2 million will be distributed to an earmarked revenue fund to be used, as appropriated by the legislature, for the purpose of providing assistance to senior citizen services through the Department of Health.
  2. 50% of the first $2 million will be distributed to the State Parks and Historic Sites Capital Construction Account to be expended as provided by W.S. 36-4-121(h)(i).
  3. All remaining revenues will be distributed to the General Fund.

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

 

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

 

Pari-mutuel Commission

Attorney General