LANSING — Earlier this year, lawmakers discussed an issue first promoted in the winter 2003 issue of Michigan Privatization Report — selling Michigan’s lottery. State officials were considering this step to help resolve the projected state budget deficit, according to the Michigan Information & Research Service.
The lottery is currently being used to supplement the School Aid Fund. Since the creation of the lottery, it has added almost $13 billion to schools, MIRS noted.
Illinois plans to lease its lottery for $10 billion, according to the Associated Press. Data from the Census Bureau shows that Michigan’s lottery provides 37 percent more proceeds than Illinois receives from its lottery.
There are logistical hurdles to selling the lottery, however. Proposal 1 of 2004 may require that a statewide vote be held if officials wanted to sell the asset, MIRS reported. Prop 1 dictates that the state cannot expand gambling without a statewide vote.