Ask Reggi Your Question Now
Can you summarize CORS 44-40-111?
STATE LOTTERY DIVISION > Lottery fund - creation - definitions.
Short Summary
This legal document pertains to the creation and management of the lottery fund in the state of Colorado. It establishes the lottery fund in the office of the state treasurer and specifies that the initial appropriation to the division, as well as subsequent revenues, shall be paid into the lottery fund. The expenses of the division, including those related to organized crime investigation and prosecution, are to be paid from the lottery fund. However, expenses do not include amounts expended for lottery prizes. Prizes for the lottery are to be paid only from the lottery fund or from money collected from the sale of lottery tickets or shares. The document also outlines the allocation of funds to the conservation trust fund and the division of parks and wildlife. It specifies that net proceeds of the lottery, after payment of expenses and prizes, shall be transferred to the conservation trust fund. The general assembly is responsible for appropriating funds from the lottery for capital construction and other purposes. The state treasurer is tasked with investing the money in the lottery fund and making transfers as required. Overall, this document provides the framework for the management and allocation of funds in relation to the state lottery in Colorado.
Whom does it apply to?
The state treasurer, the division responsible for the lottery, the director, the commission, and the general assembly
What does it govern?
Creation and management of the lottery fund, allocation of funds for expenses, prizes, and conservation trust fund
What are exemptions?
Expenses do not include amounts expended for lottery prizes
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Colorado