HB 729 Excellence in Education Fund created; issuance from lottery proceeds.
Robert B. Ball, Sr. | all patrons    ...    notes
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Summary:
Excellence in Education Fund established; state lottery proceeds. Establishes the Excellence in Education Fund to improve educational achievement for all children of the Commonwealth, regardless of where they live or their circumstances. The bill also requires the Comptroller to transfer lottery profits from the preceding fiscal year that exceed $309 million, up to a maximum of 25 percent of total lottery profits, from the State Lottery Fund to the Excellence in Education Fund. When sums from the Fund are distributed to localities pursuant to the general appropriations act, such sums shall be appropriated as general funds and shall supplement other sums appropriated by the General Assembly to improve education. The effective date of the act is July 1, 1996.

Full text:
01/25/94  House: Presented and ordered printed  pdf

Status:
01/25/94  House: Presented and ordered printed
01/25/94  House: Referred to Committee on Appropriations
02/07/94  House: Continued to 1995 in Appropriations (18-Y 0-N)
12/20/94  House: No action taken by Appropriations by voice vote