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Prop 1C would change the California LotteryNews Story
Voting 'Yes' will allow lottery to create larger prize payouts On May 19, California voters will have a chance to change the state lottery for the first time since it started in 1984. Proposition 1C would allow the state to borrow $5 billion from future lottery profits to help balance the state's 2009-10 budget. Lottery payment to educational institutions would end and the state general fund would increase its payments to schools to make up for the loss of lottery funds. Currently, t
May 8, 2009, 8:35 am - Lottery News

Tennessee Lottery shortfall requires reservesNews Story
$10 million needed to fully fund scholarship grants for students Are computerized drawings hurting sales? Will the Tennessee Lottery bring back real ball drawings? Why is Powerball always blamed for poor financial showing in Tennessee? The state of Tennessee probably will have to pull about $10 million from reserves to keep lottery scholarships fully funded this year, budget officials said after reporting a revenue shortfall last week. State Budget Director Bill Bradley said the state w
May 4, 2009, 6:35 pm - Lottery News

Proposition 1C changes how California Lottery funds are usedNews Story
Like the lottery games it promises to change, Proposition 1C looks to be a bit of a gamble. The measure could deliver $5 billion to help close the state's staggering $42 billion budget gap. At the same time, it would ease long-standing rules that some believe have held back the 25-year-old state lottery. Within a few years, however, Proposition 1C may only make the state's financial problems worse, the nonpartisan Legislative Analyst's Office has warned. The proposition, one of six budg
Apr 28, 2009, 8:20 am - Lottery News

N.C. lawmaker critical of Gov's move to take lottery funds from schoolsNews Story
North Carolina State Representative Carolyn Justice says the governor's decision to take lottery funds has left some school districts in distress. The $50 million in the Education Lottery Reserve Fund was supposed to pay for school construction costs, some for this school year. The Pender County Republican says that's going to hurt local school districts. If those counties already issued bonds planning on that money to pay their debt, they're in trouble right now. And this hasn't even
Mar 23, 2009, 3:03 pm - Lottery News