Tennessee Gov. wants to spend lottery reserve
Excess money would be distributed to school districts
Tennessee Gov. Phil Bredesen said Thursday the state lottery's huge cash reserves need to be distributed.
Bredesen, a Democrat, has abandoned last year's proposal to create a $100 million pool that would have served as collateral to improve credit ratings for school districts, he told The Associated Press in an interview Thursday.
The legislature wanted to spend it, they didn't want to put it aside to enhance credit, Bredesen said. ...
Jan 11, 2008, 7:12 am - Lottery News forum
Georgia Lottery bonuses stir lawmakers into action
The Georgia Lottery board's decision to hand out nearly $3 million in bonuses to employees this year has lawmakers vowing to put new controls on the corporation.
Senate Majority Whip Mitch Seabaugh (R-Sharpsburg) filed legislation Friday that would give lawmakers appointments to the Lottery Corp. board. Currently, the governor appoints the board. His bill, which will be considered during the 2008 session, also would mandate that all Lottery Corp. spending, including employee bonuses, be appro ...
Dec 14, 2007, 10:54 pm - Lottery News forum
Georgia lawmakers question lottery bonuses
Top Georgia Republicans are calling for a review of the bonuses awarded to Georgia Lottery officials.
Georgia Lottery President Margaret DeFrancisco and her employees collected nearly $3 million dollars in bonuses this year, a sum that has mystified Georgia legislators who three years ago tightened requirements for the lottery-funded HOPE scholarship.
House Higher Education Committee Chair Bill Hembree called the figures insane and Senate Majority Whip Mitch Seabaugh said he wanted to re ...
Dec 3, 2007, 8:38 am - Lottery News forum
Is the lottery shortchanging schools?
According to the North American Assoc. of State and Provincial Lotteries, 42 states and the District of Columbia run lotteries, and more than half claim the games boost funding for education. But CBS News chief investigative correspondent Armen Keteyian found that lotteries aren't exactly providing a windfall for schools.
If you listen to state lottery ads, we're supposed to believe that all the numbers are supposedly adding up to more and more money for education.
Lotteries help, but n ...
Sep 19, 2007, 12:38 pm - Lottery News forum
Scholarships hit by S.C. Lottery downturn
As revenue declines, grants could cover less of rising in-state tuition
Declining revenues from the S.C. lottery and increasing demand for the scholarships it provides means students could see their tuition grants drop.
It's already happened in Georgia, where tighter standards for winning lottery-funded scholarships have cost 18,000 students once-free rides.
Some day, we will have to cap the cost, S.C. Senate Finance Chairman Hugh Leatherman said. The general fund cannot afford to ha ...
Aug 6, 2007, 7:43 am - Lottery News forum
N.M. Gov. signs bill to extend lottery scholarships
A bill signed by New Mexico Gov. Bill Richardson on Thursday is designed to extend the life of the lottery scholarship fund, which has been projected to run out of money in the next few years.
Senate Bill 364, sponsored by Senate Majority Leader Michael Sanchez, D-Belen, will require that more money from lottery sales goes to the scholarship fund, and less to administration.
The lottery scholarship allows all New Mexico high school graduates in good academic standing to attend college in s ...
Mar 30, 2007, 10:36 am - Lottery News forum
N.M. Senate votes to shift more lottery funds to scholarships
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 ...
Feb 28, 2007, 10:27 am - Lottery News forum
N.C. Gov. calls for shift of lottery funds
Easley wants to take from scholarships and give to pre-K program
Gov. Mike Easley's spending plan for next year would shift profits from the N.C. Lottery toward a pre-kindergarten program at the expense of school construction and scholarships.
Easley has asked legislators to change the law so that he can earmark more money for the More at Four program, which prepares at-risk 4-year-old children for school. Easley wants to add 10,000 spaces in the program, which currently serves more than 1 ...
Feb 28, 2007, 9:54 am - Lottery News forum
Nationwide, lotteries pay for far more than education
Martha Keller is a 78-year-old resident of Altoona, Pa., who frequently takes the bus from her apartment on Walnut Avenue to her doctor's office or the local senior center. Chandni Amin is a 19-year-old nursing student at Georgia State University in Atlanta.
Keller and Amin have little in common save for one thing both are benefiting directly from money raised by state lotteries. Lotteries help pay for everything from education to economic development, buses to baseball stadiums.
In Penn ...
Jan 31, 2007, 12:06 am - Lottery News forum
High rate of Tenn. Lottery scholarships are lost by bad grades
There is a high probability that Tennessee college students with lottery funded scholarships will lose them.
A state report found 64% of students who got the scholarships two years ago failed to qualify to keep them.
In translation, roughly almost two out of every three students' did not make the grade.
Of the money raised by the Tennessee Lottery, 30% goes to college scholarships. Figures, just now coming in for students who received the first bunch of scholarships in 2004, are not ...
Jan 19, 2007, 3:12 pm - Lottery News forum