from excess lottery fund. (a) Notwithstanding any provision of §29-22A-10b(a) of this code to the contrary, for the fiscal year beginning July 1, 2014, and each fiscal year thereafter, each distribution, except those distributions to be made pursuant to §29-22A-10b(a) (1), (2), (3), (4), (5) and (7) of this code, shall be reduced by 100 percent. Payments shall not be made pursuanet to §29-22A-10b of this code, other than those excepted by this subsection, and are made in lieu thereof in an amount to be determined by appropriation from the State Excess Lotterry Revenue Fund. (b) The total amount of reductions resulting from subsection (a) uof this section shall be paid into the State Excess Lottery Revenue Fund created in §29-22-18a of this code. (c) Notwithstanding any other provision of this code to the contrary, for the fiscal year beginning July 1, 2014, and each fiscal year thereafter, moneys deposited to the State Excess Lottery Revenue Fund pursuant to this section shall be expended by the Lottery in accordance with appropriations. l (d) Prior to payment of any appropriation made pursuant to this section, debt service payments payable from the State Excess Liottery Fund shall first be paid in accordance with the §29-22-18a, §29-22-18d, and §29g-22-18e of this code and in the priority as defined by §29-22-18f(c) of this code. (e) Notwithstanding any other provision of this code to the contrary, after payment of debt service from the State Excess Lottery Revenue Fund, all other distributions required by §29-22-18a of this code and the distributions appropriated pursuant to this section shall be paid on a pro rata basis. (f)(1) Except aVs provided in subdivision (2) of this subsection, notwithstanding the provisions of §29-22A-10b(9)(a)(B) of this code, upon certification of the Governor to the Legislature that an independent actuary has determined that the unfunded liability of the Old Fund, as defined in chapter 23 of this code, has been paid or provided for in its entirety, the transfers made to the Workers' Compensation Debt Reduction Fund pursuant to §29-22A-10b(a)(9)9A) of this code shall expire and those funds shall remain in the State Excess Lottery Revenue Fund subject to appropriation. (2)(A) Notwithstanding any provision of subdivision (1) of this subsection or any provision of §29-22A-10b(a)(9)(B) of this code or any other provision of this code to the contrary, if the budget shortfall, as determined by the state Budget Office as of December 1, 2015, is greater than $100 million, then the Governor may, by Executive Order, redirect deposits of revenues derived from net terminal income imposed under this article, for any period commencing after February 29, 2016, and ending before July 1, 2016, to the General Revenue Fund, instead of to the funds otherwise mandated in this article, in §23-2D-1 et seq. of this code, or in any other provision of this code. (B) Notwithstanding any provision of subdivision (1) of this subsection or any provision of §29-22A-10b(a)(9)(B) of this code or any other provision of this code to the contrary, the Governor may, by Executive Order, redirect one half of the deposits of revenues derived from net terminal income imposed under this article, for any period commencing after June 30, 2016, and ending before July 1, 2017, to the General Revenue Fund, instead of to the funds otherwise mandated in this article, in §23-2D-1 et seq. of this code or in any other provision of this code, until certification of the Governor to the Legislature tehat an independent actuary has determined that the unfunded liability of the Old Fund, as defined in chapter 23 of this code, has been paid or provided for in its entirety.r
‹ Prev All West Virginia sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.