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Lottery raises big bucks for education in Tennessee
New games, big jackpots and higher prices have all played a part in ramping up Tennessee lottery sales to record levels, and officials say a $30 million increase in education funding will rectify two years of scholarship shortfalls. The Tennessee Education Lottery Corp. raised a record $323.4 million for scholarships this fiscal year, a 10 percent jump over last year's record, and total statewide sales totaled $1.18 billion. This is the eighth year the Tennessee lottery has posted record sales. Some Republican lawmakers recently argued for tightened standards for the HOPE scholarship because of budget shortfalls. Some suggested that, to be eligible for HOPE, students should have a 21 on their ACT and a 3.0 GPA. The change, which would have affected about 5,000 students, passed in the Senate but failed in the House. For many years, the lottery made huge profits, but the state didn't spend what it took in. Over the years, more students became eligible, but in 2010 the money coming in began to shrink as gas prices went up. In the last fiscal year, instant game sales were the bulk of lottery revenue, accounting for 81 percent, and forty-three new instant games were introduced.
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Return to Today's News Stories - Front PageThursday, April 29, 2021
US 411 Project News
Mill Creek Wildfire Update
More Bad News For Smokies' Fans
Wednesday, April 28, 2021
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Keep Cocke County Beautiful
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