State Lottery.

STATE LOTTERY. INITIATIVE CONSTITUTIONAL AMENDMENT AND STATUTE. Amends Constitution to authorize establishment of a state lottery and to prohibit casinos. Adds statutes providing for establishment of a state-operated lottery. Of the total lottery revenues, requires that 50% bet returned as prizes, not more than 16% be used for expenses, and at least 34% be used for public education. Requires that equal per capita amounts of the funds for education be distributed to kindgergarten-through-12 districts, community college districts, State University and Colleges and University of California. Contains numerous specific provisions concerning the operation and administration of lotteries and funds. Summary of Legislative Analyst\u27s estimate of net state and local government fiscal impact: The effect of this measure on state revenues cannot be predicted with certainty. Once full range of games is operational, estimated yield would be about $500 million annually for public education. Yield for first two years would be less. Estimated 80% of yield would go to K-12 schools, 13% to community colleges, 5% to California State University, and 2% to University of California