Lottery - Treasury Loans (language only)

Item 479 #1s

Language

Page 551, after line 27, insert:

"F. Notwithstanding any provision of law to the contrary, including § 3-2.03, § 4-3.02, and § 4-13.00 of the Appropriations Act, the State Comptroller shall authorize an interest-free treasury loan for the Virginia Lottery to fund costs associated with the implementation of electronic gaming device oversight pursuant to the provisions of Senate Bill 661 of the 2026 General Assembly. The amount of the Treasury loan may include costs as estimated to be incurred by Virginia Lottery for the administration, regulation, enforcement, and oversight of electronic gaming devices. The Secretary of Finance may extend the repayment plan for any such interest-free treasury loan for a period of longer than twelve months as needed to support state costs associated with the administration and regulation of electronic gaming devices. Intended repayment of the treasury loan is from revenues anticipated from taxes, fees, and fines collected pursuant to the authorizing legislation. The Director, Department of Planning and Budget, is authorized to provide nongeneral fund appropriation to Virginia Lottery in the amounts necessary to reflect expenditures in accordance with this paragraph.

G. Notwithstanding any provision of law to the contrary, including § 3-2.03, § 4-3.02, and § 4-13.00 of the Appropriations Act, the State Comptroller shall authorize an interest-free treasury loan for the Virginia Lottery to fund costs associated with establishing the Lottery as the Virginia Lottery and Gaming Authority to oversee all authorized gaming in the Commonwealth pursuant to the provisions enacted in the 2026 General Assembly. The amount of the Treasury loan may include costs as estimated to be incurred by Virginia Lottery for the administration, regulation, enforcement, and oversight of transferred gaming responsibilities to the agency. The Secretary of Finance may extend the repayment plan for any such interest-free treasury loan for a period of longer than twelve months as needed to support state costs associated with this transfer of gaming responsibilities. Intended repayment of the treasury loan is from revenues anticipated from taxes, fees, and fines collected pursuant to the authorizing legislation. The Director, Department of Planning and Budget, is authorized to provide nongeneral fund appropriation to Virginia Lottery in the amounts necessary to reflect expenditures in accordance with this paragraph."