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LAWS OF MARYLAND

Ch. 183

State Lottery - Special Reserve Fund

FOR the purpose of directing that a special reserve fund of
a certain amount be established for the daily lottery
game; providing that the special reserve fund be used
for a certain purpose; and clarifying language.

BY repealing and reenacting, with amendments,

Article 88D - State Lottery

Section 20(b)

Annotated Code of Maryland

(1969 Replacement Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 88D - State Lottery

20.

(b) From the fund, the Comptroller shall first pay for
the operation and administration of the lottery as
authorized in this article, including the expenses of the
Agency as allowed in the annual State budget, which payment
shall be prorated between daily and nondaily lottery games.

(1)  FROM THE MONEYS IN THE FUND, THE COMPTROLLER
SHALL ESTABLISH A SPECIAL RESERVE FUND OF $6,000,000
$8,000,000 FOR THE OPERATION OF THE DAILY LOTTERY GAME TO BE
USED ONLY IF THE DAILY GAME'S PAY-OUT LIABILITIES EXCEED ITS
CASH ON HAND. The moneys remaining in the fund from any
daily lottery game shall be available for distribution to
the holders of winning tickets or shares; that portion of
[such] THE moneys which is not PLACED IN THE SPECIBAL
SPECIAL RESERVE FUND OR distributed to the holders of
winning tickets or shares shall be the State's share and
shall be distributed as provided in subsection (c) of this
section.

(2)  Of the moneys remaining in the fund from any
nondaily lottery games, fifty percent (50%) shall be
distributed to the holders of winning tickets or shares; and
the other fifty percent (50%) shall be the State's share and
distributed as provided in subsection (c) of this section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.

Approved May 1, 1979.