MS SB2003

Creates the Mississippi Lottery for Education Act to be administered by the Mississippi Gaming Commission, with the commission authorized to set game types, ticket prices, prize amounts, and conduct public drawings.

Allocates lottery ticket proceeds as follows: 45% for prizes, a commission-determined percentage for administrative costs, 4% to participating counties, and remainder to the Mississippi's Hope Scholarship Trust Fund.

Establishes the Mississippi's Hope Scholarship Trust Fund to award scholarships covering tuition costs to Mississippi students with a 3.0+ GPA attending eligible in-state institutions, with annual appropriations limited to investment earnings from the fund.

Prohibits lottery ticket sales to persons under age 18, exempts lottery ticket sales from state sales tax, and amends gambling statutes to exclude authorized state lottery operations from existing gambling prohibitions.

Takes effect July 1, 2014, and requires counties to elect participation in the state lottery to allow gaming-licensed retailers in those counties to sell lottery tickets.