Sec. I-2. 8 MRSA §387, sub-§1, ¶D, as amended by PL 2003, c. 414, Pt. B, §18 and affected by c. 614, §9, is further amended to read:

D. For payment to the Maine Outdoor Heritage Fund pursuant to Title 12, section 10302.; and

Sec. I-3. 8 MRSA §387, sub-§1, ¶E is enacted to read:

E.__For payment to a qualified investor during the term of securitization.

Sec. I-4. Lottery revenue securitization, lease or sale. The Commissioner of Administrative and Financial Services is authorized to enter into financial agreements with the Maine State Retirement System or other qualified investors during fiscal year 2005-06 and fiscal year 2006-07 to securitize up to $250,000,000 of Maine State Lottery revenues for a 10-year period or lease, sell or otherwise assign lottery revenues for a 10-year period. The commissioner may adopt rules regarding the bid process, commercial terms and structure of the securitization, lease or sale. Annual payments of interest must commence on June 30, 2008 and be paid on June 30th of each year during the term of the investment.

The Commissioner of Administrative and Financial Services shall report periodically to the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs and the joint standing committee of the Legislature having jurisdiction over legal and veterans affairs as to the progress made and the results of contract negotiations.

The Commissioner of Administrative and Financial Services may retain such professionals and other contractors as the commissioner considers necessary to evaluate terms of proposals made by potential investors and provide such advice as the commissioner may require.

PART J

Sec. J-1. Transfer from unappropriated surplus at close of fiscal year 2005-06. Notwithstanding any other provision of law, at the close of fiscal year 2005-06, the State Controller shall transfer an amount up to $11,622,000 available from the unappropriated surplus of the General Fund to the department and agency accounts listed in section 2 after all required deductions of appropriations, budgeted financial commitments and adjustments