Lottery big part of state funds

December 20, 2009

By hammersmith

[Source: The Arizona Republic] – While other contributors to state revenues have dropped off severely, the Arizona Lottery has been a growing source of tens of millions of dollars per year since its inception in 1980.

The lottery funds a variety of voter-approved programs in areas such as education, health and transportation and has contributed $2.3 billion in all to its beneficiaries.

Its revenue has been so reliable that one proposal to plug the state budget deficit involves borrowing against lottery proceeds. Called lottery securitization, that plan calls for the state to take out a loan and pay it back with annual lottery profits.

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