Ask Reggi Your Question Now
Can you summarize NCGS Chapter 18C, Article 7?
North Carolina State Lottery > North Carolina State Lottery Fund.
Short Summary
This legal document governs the expenses of the North Carolina State Lottery Commission. It covers various costs such as operating and administering the Commission, purchasing or leasing goods and services, funding gambling addiction education and treatment programs, supplies and materials, independent studies and audits, advertising and promotion, reimbursing other governmental entities for services, and any other goods and services needed to accomplish the purposes of this Chapter. Additionally, the expenses of the lottery include an annual transfer of two million one hundred thousand dollars to the Department of Public Safety, Alcohol Law Enforcement Division, for gambling enforcement activities, as well as advertising costs. The document also governs the transfer of net revenues in the context of the North Carolina State Lottery. The net revenues of the North Carolina State Lottery Fund, after deducting all obligations for prizes and expenses, are considered to be the net revenues of the fund. These net revenues are required to be transferred at least four times a year to the Education Lottery Fund, which is created in the State treasury. The Education Lottery Fund is then appropriated in an amount equal to the amount appropriated from the fund. Any remaining net revenues in the Education Lottery Fund after appropriations are transferred to the Education Lottery Reserve Fund to maintain a minimum balance. Additionally, any net revenues remaining after appropriations and transfers are appropriated to the Needs-Based Public School Capital Fund. The General Assembly is responsible for appropriating the remaining net revenue of the Education Lottery Fund annually for education-related purposes. The Governor is authorized to transfer funds from the Education Lottery Reserve Fund if the actual net revenues are less than the appropriated amount. The document also establishes the North Carolina State Lottery Fund as an enterprise fund within the State treasury. The fund is appropriated to the Commission and may be expended without further action of the General Assembly for the purposes of operating the Commission and the lottery games. The revenues deposited in the North Carolina State Lottery Fund include proceeds from the sale of lottery tickets or shares, funds for initial start-up costs provided by the State, funds credited or appropriated to the Commission from any source, and interest earned by the North Carolina State Lottery Fund.
Whom does it apply to?
North Carolina State Lottery Commission
What does it govern?
Expenses of the North Carolina State Lottery
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
North Carolina