Indiana governor drops lottery privatization
Posted: 11/23/2007 11:38:00 AM
Indiana Governor Mitch Daniels said today he won't make a renewed pitch in the upcoming legislative session for his proposal to privatize the Hoosier Lottery, saying lawmakers will be too busy considering property tax reforms.
During the last session, Daniels proposed leasing the lottery to a private operator and said one company was willing to pay $1 billion plus $200 million in annual payments for the 30-year lease.
The money it generated would have gone toward a life sciences fund and a scholarship program for college students who stay in-state after graduating.
A version of his plan passed the Republican-dominated Senate. But he withdrew the proposal days before the session ended in April after it stalled in the Democratic-controlled House.
Source: Lottery Post Staff
