Louisiana state Rep. Franklin J. Foil recently introduced House Bill 91, which would help save TOPS, the publicly funded scholarship program for Louisiana students attending in-state colleges. Facing spiraling costs, decreasing awards and a projected shortfall for 2017-2018, Foil said a portion of the 0 million riverboat gambling generates annually is “more than enough” to help fund TOPS.
Foil’s bill would establish a TOPS Gaming Income Fund to act as a “special treasury fund.” After riverboats send their 15 percent gambling franchise fees to the state, the Office of the Treasurer would deposit money in the new fund to cover any TOPS deficit, he said.
Currently only 25 percent of the franchise fees go toward education and the remaining 75 percent are deposited into the state general fund. “You look at other gambling programs we have, such as the lottery, and almost all of that goes to education,” Foil said.
