HB2507 - Tennessee - Lottery, Corporation

Lottery, Corporation - Revises the commissions paid to lottery retailers from 6 1/2 percent of gross lottery sales to 9 percent of gross lottery sales. - Amends TCA Section 4-51-115. Fiscal Summary for *HB2507 / SB2569Other Fiscal Impact - The net decrease of lottery proceeds earmarked for scholarships and grants is estimated to be $28,525,000 in FY08-09 and each year thereafter. In addition, an increase in retailer commissions may increase lottery revenue if higher commissions induce more retailers to participate, if greater retailer participation leads to greater availability of lottery tickets, and if greater availability of lottery tickets leads to more sales. Any increase in lottery sales may result in a shift of some expenditures from sales-taxable items to lottery tickets. Multiple economic factors affect decisions by persons purchasing lottery tickets. Due to the number of these factors, the complexity of their interaction, and the indirect nature of their [...]

show full description