The proposed amendment, if enacted, would establish the Lottery Proceeds Fund, which would consist solely of the net revenue from lottery operations. One of the key impacts of this bill would be the stipulation that for any fiscal year with a budget surplus, five percent of that surplus is to be appropriated for local school division operational costs, thereby reducing reliance on lottery funds. This mechanism aims to create a more sustainable and predictable funding model for public education while allowing for necessary capital improvements in school facilities.
Summary
SJR20 proposes a constitutional amendment aimed at modifying the distribution of lottery revenues in Virginia. Specifically, it seeks to ensure that net revenues generated from the state's lottery are allocated to support public education, benefiting counties, cities, towns, and their respective school divisions. This amendment is designed to streamline funding mechanisms for educational purposes, ensuring that local jurisdictions receive adequate resources necessary for their operational costs while also addressing capital construction and renovation needs in local schools.
Contention
Although the bill has garnered support for its potential to enhance public education funding, there may be points of contention regarding the implications of relying on lottery proceeds for educational financing. Critics may argue that this creates an unstable funding source, particularly during economic downturns when lottery revenues might decrease. Additionally, concerns could be raised about the requirement for localities to fund education programs without relying heavily on lottery distributions, which might strain resources in smaller jurisdictions already facing fiscal challenges.
Constitutional amendment to repeal certain constitutionally dedicated and protected allocations and funds. (2/3-CA13s1(A)) (OR INCREASE GF RV See Note)