The five board members of Mississippi’s new lottery corporation recently met at a law office in Jackson to start adopting rules for the state lottery that could launch later this year. Governor Phil Bryant nominated the board members several months ago and they recently were confirmed by the state Senate.
Mississippi is one of the last states to create a state lottery, approved by the legislature last August. Mississippi’s lottery is expected generate $40 million for the state the first year, then $80-$100 million annually. For the next decade, up to $80 million a year in lottery proceeds will go toward state roads and bridges or a matching fund for federal infrastructure money. Any revenue above $80 million would go to public education.
The board adopted ethics policies, heard proposals for financial services from banks and determined which corporate records would be available to the public. “Most of this is common sense,” Lucien Smith, a Balch & Bingham attorney, told the board.
