N.M. Senate votes to shift more lottery funds to scholarships

Comment #1

Drivedabizness — Wed, 28 Feb 2007 16:18:55 GMT

This issue has been around in NM since before the Lottery even started up.

There are a lot of areas where they can trim expenses - for example they are top heavy in staff for their size. They will also look to wring cost concessions from whoever wins their new online system contract.

That said, I always hate to see a minimum % to beneficiaries requirement. Beneficiaries spend dollars - not percentages. The ONLY way this lottery can hit 30%, given its very big geographical size and low popu... [ More ]

N.M. Senate votes to shift more lottery funds to scholarships

Lottery Post — Wed, 28 Feb 2007 15:27:01 GMT

The New Mexico State Senate voted 39-1 Tuesday to ensure that more proceeds from the New Mexico Lottery go toward the scholarship fund and less go toward administration.

Senate Bill 364 would require that at least 27 percent of revenue from lottery sales go toward scholarships starting July 1, and then at least 30 percent starting Jan. 1, 2009. Current law requiring that at least 50 percent of revenue go toward prizes will remain in effect.

The bill comes on the heels of a report last fall... [ More ]