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MS SB2729
Bill
AI Summary
- Creates the "Lottery Contingency Act of 2018" to establish procedures for distributing state lottery revenue if a state lottery is enacted
- Directs that lottery proceeds, after administrative expenses and prize payouts, be distributed to local taxing districts (counties, municipalities, school districts, and other entities that levy ad valorem taxes)
- Requires distribution of lottery proceeds to each local taxing district based on the proportion of that district's assessed value compared to all local taxing districts statewide
- Mandates that local taxing districts reduce their millage rates to reflect the amount of lottery revenue received, resulting in equivalent reductions in ad valorem tax collections
- Takes effect upon passage
Legislative Description
Lottery Contingency Act of 2018; create.
Last Action
Died In Committee
1/30/2018
Committee Referrals
Finance1/15/2018
Full Bill Text
No bill text available