Page 585
House Bill No. 5506
Public Act No. 22-118 585 of 739
Capital Reserve Fund. (d) The proceeds of online lottery ticket sales shall be deposited in the online lottery ticket sales fund of the corporation established pursuant to section 12-853a. On a weekly basis, the president shall estimate, and certify to the State Treasurer, that portion of the balance in such fund which exceeds the current needs of the corporation for the payment of prizes, the payment of current operating expenses and funding of approved reserves of the corporation related to online lottery ticket sales. For the fiscal years ending June 30, 2022, and June 30, 2023, upon notification of receipt of such certification by the State Treasurer, the corporation shall transfer the amount so certified to the General Fund. For the fiscal year ending June 30, 2024, and each fiscal year thereafter, the corporation shall, upon notification of receipt of such certification by the State Treasurer, (1) transfer the amount so certified to the debt-free community college account established pursuant to section 10a-174a, until the corporation has transferred a total of fourteen million dollars in a fiscal year to said account, and (2) transfer any amount remaining after the transfers required by subdivision (1) of this subsection to the General Fund. (e) On a monthly basis, the president shall estimate and certify to the Secretary of the Office of Policy and Management, the amount that the corporation transferred to the General Fund, pursuant to subsection (c) of this section and section 12-867, that was from the proceeds of retail sports wagering at a retail sports wagering facility at the XL Center in Hartford that exceeds the payment of prizes and winnings, the payment of any federal excise taxes applicable to such sums received, the payment of current operating expenses and the funding of approved reserves of the corporation. Sec. 428. Section 32-602 of the general statutes is amended by adding subsection (h) as follows (Effective from passage):