SUPPORTERS OF A BILL ENDORSED BY THE HOUSE EDUCATION COMMITTEE ON WEDNESDAY SAY THE MEASURE WILL LEAD TO BIGGER NEW MEXICO LOTTERY PAYOUTS…AND BOLSTER THE LOTTERY SCHOLARSHIP PROGRAM. THE MEASURE ELIMINATES THE REQUIREMENT THAT 30-PERCENT OF LOTTERY REVENUES GO TOWARD THE TUITION FUND.
INSTEAD, IT IMPOSES A 38 MILLION DOLLAR FLOOR FOR THE FUND ANNUALLY. THE 30-PERCENT REQUIREMENT WOULD BE REAPPLIED IF FUNDS GO BELOW THAT LEVEL.
