New Mexico SB309 mandates monthly lottery net revenue deposits into the Lottery Tuition Fund, with specific percentages and conditions.
New Mexico SB309 modifies the disposition of lottery revenue, requiring monthly deposits into the Lottery Tuition Fund. At least 50% of annual gross revenue must be returned as prizes. From July 1, 2026, the lottery authority must deposit at least 27% of the previous month's net revenue into the fund. If annual net revenue falls below $43 million for two consecutive fiscal years, the deposit requirement increases to 30% of the previous month's gross revenue.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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