Lawmakers will be able to keep a close watch on North Carolina's newly adopted lottery under a bill passed Thursday night.
Both chambers gave the measure final approval in an effort to ensure that the lottery money goes directly to education programs. The nine-member panel will review the lottery's annual revenue and make sure that the division's proceeds are not supplanting existing education funds.
"Oversight is needed to keep the General Assembly in touch with something as big as the lottery," said Rep. Bill Owens, D-Pasquotank.
The governor, House speaker and Senate president pro tempore will each appoint three members to the commission, each deciding on at least one educator and one person who is experienced in financial management. That panel would meet at least four times each year and would provide an annual report to the Legislature.
North Carolina became the last state on the East Coast to adopt a lottery after approving the money games during last year's session. The lottery law requires that the net revenues go to school construction, class-size reduction, pre-kindergarten and college scholarships.
Lottery profit projections for the new fiscal year range from $400 million to $425 million.
Glad to see NC is taking these steps to make sure the monies they get from the lottery go where they are supposed to.Many criticize how things have gone with the NC lottery but,as a new lottery,the laws and regulations concerning it seem to be pretty well thought out.I think the lottery will continue to improve after this first year of existance is evaluated.Changes will probably continue to be made as things go on.In the mean time,NC has got a good thing going.
Glad to see NC is taking these steps to make sure the monies they get from the lottery go where they are supposed to.Many criticize how things have gone with the NC lottery but,as a new lottery,the laws and regulations concerning it seem to be pretty well thought out.I think the lottery will continue to improve after this first year of existance is evaluated.Changes will probably continue to be made as things go on.In the mean time,NC has got a good thing going.