Funds to State surpass $80 million
The Mississippi Lottery Corporation completed its February transfer of $9,410,686.64 in net proceeds to the Mississippi State Treasury. This brings the approximated Fiscal Year 2022 net proceeds total to $83,802,303.97.
The Lottery Law stipulates the first $80 million in net proceeds goes to road and bridge needs around the state for 10 years. Net proceeds over $80 million go to the Education Enhancement Fund. The February transfer will return $3,802,303.97 to the Education Enhancement Fund
“Exceeding $80 million mark is a huge milestone for the lottery, our retailers and all Mississippians,” said Mississippi Lottery President Jeff Hewitt. “By passing this benchmark, the proceeds from the sale of lottery products for the remainder of FY22 will now be directed to the Education Enhancement Fund. We are honored to be able to give back to important Mississippi causes – road and bridge repair and educational needs.”
In accordance with the Alyce G. Clarke Lottery Law, the MLC is required to transfer net proceeds within 20 days following the close of each calendar month.