Sec. 12-573. Certification of balance in betting fund in excess of division needs. Transfer to General Fund. - Connecticut Statutes

State Codes and Statutes

Statutes > Connecticut > Title12 > Chap226 > Sec12-573

      Sec. 12-573. Certification of balance in betting fund in excess of division needs. Transfer to General Fund. Until the effective date of transfer of ownership of the off-track betting system, and from time to time the executive director shall estimate, and certify to the Comptroller, that portion of the balance in the betting fund which is in excess of the current needs of the division for the payment of prizes and for the payment of compensation under section 12-572. Upon receipt of any such certification, the amount so certified shall be transferred from the betting fund to the General Fund.

      (1971, P.A. 865, S. 17; 1972, P.A. 187, S. 9; P.A. 79-404, S. 23, 45; P.A. 86-312, S. 6, 21; P.A. 93-332, S. 32, 42.)

      History: 1972 act added reference to Subsecs. (c) and (d) of Sec. 12-569; P.A. 79-404 substituted "executive director" and "division" for "commission" as necessary; P.A. 86-312 required executive director to certify excess balance to comptroller rather than to state treasurer and deleted references to lottery fund to reflect amendment to Sec. 12-568 concerning said fund; P.A. 93-332 made technical changes in section re operation of the off-track betting system by an authorized licensee, effective June 25, 1993.

State Codes and Statutes

Statutes > Connecticut > Title12 > Chap226 > Sec12-573

      Sec. 12-573. Certification of balance in betting fund in excess of division needs. Transfer to General Fund. Until the effective date of transfer of ownership of the off-track betting system, and from time to time the executive director shall estimate, and certify to the Comptroller, that portion of the balance in the betting fund which is in excess of the current needs of the division for the payment of prizes and for the payment of compensation under section 12-572. Upon receipt of any such certification, the amount so certified shall be transferred from the betting fund to the General Fund.

      (1971, P.A. 865, S. 17; 1972, P.A. 187, S. 9; P.A. 79-404, S. 23, 45; P.A. 86-312, S. 6, 21; P.A. 93-332, S. 32, 42.)

      History: 1972 act added reference to Subsecs. (c) and (d) of Sec. 12-569; P.A. 79-404 substituted "executive director" and "division" for "commission" as necessary; P.A. 86-312 required executive director to certify excess balance to comptroller rather than to state treasurer and deleted references to lottery fund to reflect amendment to Sec. 12-568 concerning said fund; P.A. 93-332 made technical changes in section re operation of the off-track betting system by an authorized licensee, effective June 25, 1993.

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State Codes and Statutes

Statutes > Connecticut > Title12 > Chap226 > Sec12-573

      Sec. 12-573. Certification of balance in betting fund in excess of division needs. Transfer to General Fund. Until the effective date of transfer of ownership of the off-track betting system, and from time to time the executive director shall estimate, and certify to the Comptroller, that portion of the balance in the betting fund which is in excess of the current needs of the division for the payment of prizes and for the payment of compensation under section 12-572. Upon receipt of any such certification, the amount so certified shall be transferred from the betting fund to the General Fund.

      (1971, P.A. 865, S. 17; 1972, P.A. 187, S. 9; P.A. 79-404, S. 23, 45; P.A. 86-312, S. 6, 21; P.A. 93-332, S. 32, 42.)

      History: 1972 act added reference to Subsecs. (c) and (d) of Sec. 12-569; P.A. 79-404 substituted "executive director" and "division" for "commission" as necessary; P.A. 86-312 required executive director to certify excess balance to comptroller rather than to state treasurer and deleted references to lottery fund to reflect amendment to Sec. 12-568 concerning said fund; P.A. 93-332 made technical changes in section re operation of the off-track betting system by an authorized licensee, effective June 25, 1993.