Lottery fund bill passes House

Wednesday, March 12th 2008, 4:59 pm
By: News 9

Legislation on changing the way lottery money is spent on schools passed the state House of Representatives Wednesday with an 85 to 16 vote. The bill now moves to the state Senate.

House Bill 1441, authored by state Rep. Gary Banz, would create a special Common Education Lottery Revolving Fund to collect and distribute lottery funds every month, divided on a per-student basis.

"The lottery provides an unpredictable revenue stream for our schools," said Banz, R-Midwest City, in a press release. "Right now, we spend money based on predictions instead of facts. This bill will change that dynamic to make sure schools know exactly how much money they will have prior to spending it."

In the 2007 budget year, the lottery shortfall was more than $40 million and this year's numbers are falling below projections as well.