Ley 101 del 2001
Resumen
Esta ley enmienda la Ley de la Lotería de Puerto Rico para transferir $18 millones del Fondo Especial para Préstamos a Entidades Gubernamentales al Fondo General del Tesoro, con el propósito específico de cubrir gastos operativos del Departamento de Educación durante el año fiscal 2000-2001.
Contenido
(No. 101)
(Approved August 11, 2001)
AN ACT
To amend clause (3) of subsection
(b) of Section 11 of Act No. 465 of May 15, 1947, as amended, known as the "Puerto Rico Lottery Act", in order to revert to the General Fund of the Treasury of the Commonwealth of Puerto Rico, the amount of eighteen million (18,000,000) dollars, from the Special Fund for Loans to Government Entities and determine the way in which they shall be used.
STATEMENT OF MOTIVES
Section 11 of Act No. 465 of May 15, 1947, as amended, provides for the existence of a special fund for granting loans to government entities. This special fund is annually nurtured by contributions from the net revenues proceeding from the operations of the Puerto Rico Lottery. This fund is presently provided with resources in excess of those needed to satisfactorily fulfill the purposes for which in was created.
This Legislature, as in the past, recognizes the need to channel those financial resources in excess to other government sectors with greater needs. The purpose of this legislation is to revert to the General Fund of the Treasury of the Commonwealth of Puerto Rico the amount of eighteen million (18,000,000) dollars from the resources of the Special Fund for Loans to Government Entities, created by virtue of Act No. 7 of September 14,1979 , as amended.
BE IT ENACTED BY THE LEGISLATURE OF PUERTO RICO:
Section 1.-Clause (3) of subsection
(b) of Section 11 of Act No. 465 of May 15, 1947, as amended, is hereby amended to read as follows: "Section 11.-Lottery Fund, Creation of.-
(a) (b) (1) (3) For fiscal year 2000-2001, exclusively, the Government Development Bank for Puerto Rico shall revert to the General Fund of the Treasury of the Commonwealth of Puerto Rico the amount of eighteen million (18,000,000) dollars from the resources of the Special Fund for Loans to Government Entities, created by virtue of Act No. 7 of September 14,1979 , as amended.
The funds to be transferred shall be used to cover the operating expenses of the Department of Education for fiscal year 2000-2001.
Section 2.-This Act shall take effect immediately after its approval.
CERTIFICATION
I hereby certify to the Secretary of State that the following Act No. 101 (S.B. 542) of the $1^{ ext {st }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to amend clause (3) of subsection
(b) of Section 11 of Act No. 465 of May 15, 1947, as amended, known as the "Puerto Rico Lottery Act", in order to revert to the General Fund of the Treasury of the Commonwealth of Puerto Rico, the amount of eighteen million (18,000,000) dollars, from the Special Fund for Loans to Government Entities and determine the way in which they shall be used, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $30^{ ext {th }}$ of September of 2004.
Elba Rosa Rodríguez-Fuentes Director