Illinois Compiled Statutes 20 ILCS 1605/9.3 – Expenditure and distribution of lottery proceeds
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(a) Beginning July 1, 2022, except as provided in Sections 21.4, 21.5, 21.6, 21.7, 21.8, 21.9, 21.10, 21.11, 21.13, 21.15, and 21.16 of this Law and § 25-70 of the Sports Wagering Act, the Department shall distribute all proceeds of lottery tickets and shares sold in the following priority and manner:
(1) The payment of prizes and retailer bonuses.
(2) The payment of costs incurred in the operation
(1) The payment of prizes and retailer bonuses.
Terms Used In Illinois Compiled Statutes 20 ILCS 1605/9.3
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(2) The payment of costs incurred in the operation
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and administration of the Lottery, including the payment of sums due to the private manager under the management agreement with the Department and including costs of administering the Lottery sports wagering program pursuant to § 25-70 of the Sports Wagering Act.
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(3) On the last day of each month or as soon
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thereafter as possible, the State Comptroller shall direct and the State Treasurer shall transfer from the State Lottery Fund to the Common School Fund the Department’s estimate of net lottery proceeds.
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(4) If an amount in excess of the annual net
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lottery proceeds is transferred for a fiscal year, then the Department shall offset the monthly transfers of estimated net lottery proceeds during the following fiscal year by that excess amount. If an amount less than the annual net lottery proceeds is transferred for a fiscal year, then after the related annual fiscal year audit is completed following such fiscal year, the Department shall direct the deposit of any remaining annual net lottery proceeds from such fiscal year, subject to payments under paragraphs (1) and (2), into the Common School Fund as soon thereafter as possible.
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(b) The net lottery proceeds shall be determined by deducting from total annual lottery proceeds the expenditures required by paragraphs (1) and (2) of subsection (a). The total annual lottery proceeds and annual net lottery proceeds shall be determined according to generally accepted accounting principles for governmental entities and verified by an annual fiscal year audit.