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MS SB2829
Bill
Status
3/5/2024
Primary Sponsor
Michael McLendon
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AI Summary
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Amends Section 27-115-85 to direct net proceeds from the Alyce G. Clarke Mississippi Lottery Law into the State Highway Fund upon requisition by the State Transportation Commission for highway and bridge repair, renovation, and maintenance.
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Prioritizes use of lottery funds for matching federal highway infrastructure funds authorized to the state after September 1, 2018.
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Brings forward Section 27-115-51 establishing the Lottery Proceeds Fund and requiring the lottery corporation to transfer net proceeds to this fund within 20 days of each month's close.
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Specifies that lottery prize payouts must be at least 50% of total gross revenues and operational costs cannot exceed 15% of gross revenues.
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Takes effect July 1, 2024.
Legislative Description
Net lottery proceeds; provide that any shall be paid into State Highway Fund on requisition of Transportation Commission.
Last Action
Died In Committee
3/5/2024