§ 18C-160 – North Carolina State Lottery Fund.
18C-160. North Carolina State Lottery Fund. An enterprise fund, to be known as the North Carolina State Lottery Fund, is created within the State treasury. The North Carolina State Lottery Fund is appropriated to the Commission and may be expended without further action of the General Assembly for the purposes of operating the Commission and […]
§ 18C-161 – Types of income to the North Carolina State Lottery Fund.
18C-161. Types of income to the North Carolina State Lottery Fund. The following revenues shall be deposited in the North Carolina State Lottery Fund: (1) All proceeds from the sale of lottery tickets or shares. (2) The funds for initial start-up costs provided by the State. (3) All other funds credited or appropriated to the […]
§ 18C-162 – Allocation of revenues.
18C-162. Allocation of revenues. (a) The Commission shall allocate revenues to the North Carolina State Lottery Fund in order to increase and maximize the available revenues for education purposes, and to the extent practicable, shall adhere to the following guidelines: (1) At least fifty percent (50%) of the total annual revenues, as described in this […]
§ 18C-163 – Expenses of the Lottery.
18C-163. Expenses of the Lottery. (a) Expenses of the Lottery may include any of the following: (1) The costs incurred in operating and administering the Commission, including initial start-up costs. (2) The costs resulting from any contracts entered into for the purchase or lease of goods or services required by the Commission. (3) A transfer […]
§ 18C-164 – Transfer of net revenues.
18C-164. Transfer of net revenues. (a) The funds remaining in the North Carolina State Lottery Fund after receipt of all revenues to the Lottery Fund and after accrual of all obligations of the Commission for prizes and expenses, excluding balance sheet adjustments or prior-period expense adjustments necessary to implement changes in accounting methods or accounting […]