Vote Smart's Synopsis:

Vote to pass a bill that allows private entities to manage the state lottery.

Highlights:

- Forbids a private manager of the lottery from operating any keno games, video lottery games, or pari-mutuel betting on races (sec. 64). - Requires a potential manager to make an initial payment at least $1 billion, and four annual payments of at least $50 million each (sec. 64). - Provides for the state’s restrictions on the manager’s excess revenue (sec. 64). - Appropriates 60 percent of lottery funds or $600 million, whichever is less, to the Indiana life sciences fund to provide grants to postsecondary research institutions (sec. 65). - Appropriates 40 percent of lottery funds or $400 million, whichever is less, to the Hoosier Hope Scholarship Fund to provide tuition for Indiana students who agree to work in the state for three years after their graduation [sec. 65, sec. 69]. -Appropriates any remaining lottery funds to the state pension relief fund and the state general fund (sec. 65).

Full Bill Text