State Operated Lottery.

STATE OPERATED LOTTERY. INITIATIVE CONSTITUTIONAL AMENDMENT. Provides for State operated lottery with periodic drawings under jurisdiction and supervision of three member board. Members of board appointed by Governor and confirmed by Senate for staggered four year terms. $2.00 tickets to be sold through machines selected, operated, and controlled by State Building Standards Commission. From proceeds received from sale of tickets, 30% allocated for prizes, not to exceed 10% allocated for expenses, and balance allocated for aid to education in the public schools by school districts and for other educational programs approved by county boards of education. Provides for statewide lottery with monthly drawings. Creates State Lottery Commission of three members appointed by Governor, with supervisorial powers over licensee permitted to conduct lottery. Commission shall issue only one license to conduct lottery; original license to go to a named private corporation for a period of 10 years; licensee to pay annual fee of $500.00 for each county in State. Commission shall print and sell $2.00 tickets to licensee for $1.74; 74% of money received by Commission appropriated for public education; 26% to be used for expenses of Commission and prizes