SB309 - Alabama Education Lottery Act

• Creates the Alabama Lottery Corporation as a public instrumentality governed by a 7-member board of directors appointed by the Governor, Lieutenant Governor, President Pro Tempore of the Senate, Speaker of the House, and Attorney General, subject to Senate confirmation.

• Establishes the Lottery Retailer Advisory Board with 6 members to advise the board on retail aspects of lottery operations and represent retailer interests throughout the state.

• Allocates net lottery proceeds with 50% distributed to the Education Trust Fund (70% for K-12 education including 10% for failing schools, 30% for higher education) and 50% for postsecondary scholarships including a loan forgiveness component for in-demand field graduates working in Alabama.

• Directs the first $20 million annually of unclaimed prize money to agricultural grant programs administered by the Department of Agriculture and Industries, with any remaining unclaimed prizes directed to postsecondary scholarships after $15 million is deposited.

• Establishes comprehensive regulations for lottery retailers and vendors including licensing requirements, compensation at 6% of gross sales, conflict-of-interest prohibitions, and grounds for contract suspension or termination for violations.