Lottery, Corporation - As enacted, requires the general shortfall lottery subaccount to be maintained at $100 million instead of at $50 million; requires comptroller to make an annual report on the adequacy of reserves. - Amends TCA Section 4-51-111.
Companion bill has been assigned Public Chapter Number 896 by the Secretary of State.
  • Bill History
  • Amendments
  • Video
  • Summary
  • Fiscal Note
  • Votes
  • Actions For SB2515Date
    Comp. became Pub. Ch. 89605/15/2012
    Comp. HB Subst (sends SB to dead bill file)04/16/2012
    Placed on Senate Regular Calendar cal. for 4/16/201204/12/2012
    S. Reset on cal. for 4/16/201204/12/2012
    Placed on Senate Regular Calendar cal. for 4/12/201204/10/2012
    S. Reset on Cal. for 4/12/2012 04/09/2012
    Placed on Senate Regular Calendar cal. for 4/9/201204/05/2012
    Rec. for pass. w/ am., ref. to S. Cal. Comm. Ayes 9, Nays 2 PNV 003/27/2012
    Placed on S. FW&M Comm. cal. for 3/27/201203/21/2012
    Action Def. in S. FW&M Comm. to 3/27/201203/20/2012
    Placed on S. FW&M Comm. cal. for 3/20/201203/14/2012
    Rec. For Pass. ref. to: S. FW&M Comm.02/21/2012
    Placed on S. S&L Govt. Comm. cal. for 2/21/201202/15/2012
    P2C, ref. to S. S&L Govt. Comm.01/23/2012
    Intro., P1C.01/19/2012
    Filed for intro.01/17/2012
    Actions For HB2650Date
    Pub. Ch. 896 05/15/2012
    Effective date(s) 05/09/1205/15/2012
    Signed by Governor.05/09/2012
    Transmitted to Governor for his action.04/27/2012
    Signed by S. Speaker04/24/2012
    Signed by H. Speaker04/19/2012
    Enrolled; ready for sig. of H. Speaker.04/18/2012
    H. concurred in S. am. no. 1, Ayes 86, Nays 8 04/18/2012
    H. Placed on Message Calendar for 4/18/201204/17/2012
    Passed S. as am., Ayes 19, Nays 1104/16/2012
    S. adopted am. 1 04/16/2012
    S. Subst. HB for comp. SB.04/16/2012
    Rcvd. from H., P1C.03/08/2012
    Engrossed; ready for transmission to Sen.03/05/2012
    Passed H., as am., Ayes 73, Nays 18, PNV 2 03/05/2012
    H. adopted am.(Amendment 1 of 0 - HA0763)03/05/2012
    H. Placed on Regular Calendar for 3/5/201203/01/2012
    Placed on cal. Calendar & Rules Committee for 3/1/201202/29/2012
    Rec. for Pass. if Am. ref. to: Calendar & Rules Committee02/28/2012
    Placed on cal. Finance, Ways & Means Committee for 2/28/201202/22/2012
    Rec. For Pass. by s/c ref. to Finance, Ways & Means Committee 02/22/2012
    Placed on s/c cal Finance Subcommittee for 2/22/201202/15/2012
    Assigned to s/c Finance Subcommittee02/15/2012
    Rec. For Pass. ref. to: Finance, Ways & Means Committee02/14/2012
    Placed on cal. State & Local Government Committee for 2/14/201202/08/2012
    Rec. For Pass. by s/c ref. to State & Local Government Committee 02/08/2012
    Placed on s/c cal S&LG Subcommittee for 2/8/201202/01/2012
    Assigned to s/c S&LG Subcommittee01/25/2012
    P2C, ref. to State & Local Government Committee01/23/2012
    Intro., P1C.01/19/2012
    Filed for intro.01/17/2012
  • AmendmentsFiscal Memos
    SA1002Amendment 1-1 to SB2515Fiscal Memo for SA1002 (15644)  
    AmendmentsFiscal Memos
    HA0763Amendment 1-1 to HB2650Fiscal Memo for HA0763 (13461)  

    NOTE: Each fiscal memorandum applies only to the amendment(s) identified in the memorandum. The fiscal memorandum must be matched to any amendments that have been adopted.

  • Videos containing keyword: SB2515

  • Fiscal Summary

    Not Available


    Bill Summary

    Under present law, a general shortfall reserve subaccount is maintained within the lottery for education account. Generally, the amount of the general shortfall reserve subaccount must equal $50 million. This bill increases the required amount in this subaccount to $100 million.

    This bill requires the comptroller to annually review and report to the house and senate education committees concerning the adequacy of the balance of the general shortfall reserve subaccount, whether payment from net lottery proceeds for authorized educational programs has been sufficient to fund the programs without drawing on the general shortfall reserve subaccount and whether triggers for replenishing or increasing the general shortfall reserve account, if deemed inadequate, are sufficient.

    ON MARCH 5, 2012, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 2650, AS AMENDED.

    AMENDMENT #1 changes other references in the code regarding the subaccount to reflect the change from $50 million to $100 million.

    ON APRIL 16, 2012, THE SENATE SUBSTITUTED HOUSE BILL 2650 FOR SENATE BILL 2515, ADOPTED AMENDMENT #1, AND PASSED HOUSE BILL 2650, AS AMENDED.

    AMENDMENT #1 corrects a typographical error.

  • No fiscal note for this bill.
  • House Floor and Committee Votes

    HB2650 by Brooks H - FLOOR VOTE: CONCUR IN SENATE AMENDMENT # 1 4/18/2012
    Passed
              Ayes...............................................86
              Noes................................................9

              Representatives voting aye were: Alexander, Armstrong, Bass, Brooks H, Brooks K, Butt, Campbell, Carr, Casada, Casada, Cobb, Coley, Curtiss, Dean, DeBerry J, DeBerry L, Dennis, Dunn, Elam, Eldridge, Evans, Faison, Fitzhugh, Fitzhugh, Ford, Forgety, Gilmore, Gotto, Halford, Hall, Harmon, Harrison, Harwell, Hawk, Hawk, Haynes, Hensley, Hill, Holt, Hurley, Johnson C, Johnson C, Johnson P, Keisling, Kernell, Lollar, Lundberg, Maggart, Marsh, Matheny, Matlock, McCormick, McCormick, McDaniel, McDaniel, McManus, Miller D, Miller L, Montgomery, Moore, Naifeh, Niceley, Odom, Parkinson, Pitts, Pody, Powers, Pruitt, Ragan, Ramsey, Rich, Roach, Sanderson, Sargent, Sexton, Shaw, Shepard, Shipley, Sparks, Stewart, Swann, Tidwell, Tindell, Todd, Watson, Weaver, White, Williams K, Williams R, Windle, Wirgau, Womick, Mr. Speaker Harwell, Mr. Speaker Naifeh, Mr. Speaker Williams K -- 86.
              Representatives voting no were: Brown, Cooper, Favors, Hardaway, Jones S, McDonald, Sontany, Towns, Turner M -- 9.

    HB2650 by Brooks H - FLOOR VOTE: AS AMENDED PASSAGE ON THIRD CONSIDERATION 3/5/2012
    Passed
              Ayes...............................................73
              Noes...............................................18

              Representatives voting aye were: Alexander, Bass, Brooks H, Brooks K, Butt, Campbell, Carr, Casada, Casada, Cobb, Coley, Curtiss, Dean, DeBerry J, Dennis, Dunn, Elam, Eldridge, Faison, Floyd, Ford, Forgety, Gotto, Halford, Hall, Harrison, Harwell, Hawk, Hawk, Haynes, Hensley, Hill, Hurley, Johnson C, Johnson C, Johnson P, Keisling, Lollar, Lundberg, Maggart, Marsh, Matheny, Matlock, McCormick, McCormick, McDaniel, McDaniel, McDonald, McManus, Miller D, Miller L, Montgomery, Niceley, Pitts, Pody, Ragan, Ramsey, Rich, Roach, Sanderson, Sargent, Sexton, Shaw, Shepard, Sparks, Swann, Tidwell, Tindell, Todd, Turner J, Watson, Weaver, White, Williams K, Williams R, Windle, Wirgau, Womick, Mr. Speaker Harwell, Mr. Speaker Williams K -- 73.
              Representatives voting no were: Armstrong, Brown, DeBerry L, Fitzhugh, Fitzhugh, Gilmore, Hardaway, Harmon, Jones S, Kernell, Moore, Naifeh, Odom, Parkinson, Richardson, Sontany, Stewart, Towns, Turner M, Mr. Speaker Naifeh -- 18.

              HB2650 by Brooks H - HOUSE CALENDAR & RULES COMMITTEE:
    Recommended for passage - refer to: House Regular Calendar 1 3/1/2012
              Voice Vote - Ayes Prevail

              HB2650 by Brooks H - HOUSE FINANCE, WAYS & MEANS COMMITTEE:
    Recommended for passage w/amendments- refer to: Calendar & Rules Committee 2/28/2012
              Voice Vote - Ayes Prevail

              HB2650 by Brooks H - HOUSE FINANCE, WAYS & MEANS SUBCOMMITTEE:
    Recommended for passage - refer to: Finance, Ways & Means Committee 2/22/2012
              Voice Vote - Ayes Prevail

              HB2650 by Brooks H - HOUSE LOCAL GOVERNMENT COMMITTEE:
    Recommended for passage - refer to: Finance, Ways & Means Committee 2/14/2012
              Voice Vote - Ayes Prevail

              HB2650 by Brooks H - HOUSE LOCAL GOVERNMENT SUBCOMMITTEE:
    Recommended for passage - refer to: State & Local Government Committee 2/8/2012
              Voice Vote - Ayes Prevail

    Senate Floor and Committee Votes

    Senate moved to substitute and conform to HB2650

    HB2650 by Brooks H - FLOOR VOTE: THIRD CONSIDERATION AMENDED 4/16/2012
    Passed
              Ayes...............................................19
              Noes...............................................11

              Senators voting aye were: Beavers, Bell, Campfield, Crowe, Faulk, Gresham, Henry, Johnson, Kelsey, Ketron, Massey, McNally, Norris, Ramsey, Roberts, Southerland, Tracy, Watson, Yager, Mr. Speaker McNally, Mr. Speaker Ramsey -- 19.
              Senators voting no were: Barnes, Berke, Burks, Finney L, Ford, Harper, Haynes, Herron, Kyle, Marrero, Stewart -- 11.

    SB2515 by Gresham - SENATE FINANCE, WAYS AND MEANS COMMITTEE:
    Recommended for passage w/amendments- refer to: S. Cal. Comm. 3/27/2012
    Passed
              Ayes................................................9
              Noes................................................2

              Senators voting aye were: Gresham, Henry, Kelsey, Ketron, Kyle, McNally, Norris, Overbey, Watson, Mr. Speaker McNally -- 9.
              Senators voting no were: Finney L, Haynes -- 2.

    SB2515 by Gresham - SENATE STATE & LOCAL GOVERNMENT COMMITTEE:
    Recommended for passage - refer to: S. FW&M Comm. 2/21/2012
    Passed
              Ayes................................................7
              Noes................................................2

              Senators voting aye were: Campfield, Faulk, Harper, Johnson, Ketron, Norris, Yager -- 7.
              Senators voting no were: Finney L, Haynes -- 2.