Wyoming lottery.

11LSO-0483.L2

FISCAL NOTE

The fiscal impact, in the form of increased revenues from lottery ticket sales, is indeterminable.

This bill creates the Wyoming Lottery Corporation (Corporation), a public corporation which shall be deemed an instrumentality of the state, and not a state agency. Revenues from lottery ticket sales shall initially go the Corporation. The Corporation is responsible for payment of operating expenses (all costs of doing business, including but not limited to retailer commissions, advertising and marketing costs, personnel costs, capital costs, depreciation of property and equipment and other operating costs). The Corporation shall provide for compensation to lottery retailers in the form of commissions of not less than 6 percent of gross sales, and may provide for other forms of compensation for services rendered in the sale or cashing of lottery tickets or shares.

As nearly as practical, at least 45 percent of the net proceeds (all revenue derived from the sale of lottery tickets or shares less operating expenses) shall be made available as prize money.

On or before the 15^th day of each quarter, the Corporation shall transfer to the General Fund the amount of all net proceeds minus prizes paid during the preceding quarter. These funds shall be credited to the Lottery Account. Such monies shall be invested by the State Treasurer with all earnings accruing to the credit of the Lottery Account. Funds in the Lottery Account shall only be appropriated upon action by the legislature.

According to the Pari-Mutuel Commission, this bill would likely result in a decrease in revenues to the Wyoming Breeders Award Fund and the Pari-Mutuel Commission, due to pari-mutuel bettors switching to the proposed lottery. However, this decrease in revenues cannot be determined at this time.

NOTICE-AGENCY ESTIMATE OF ADMINISTRATIVE IMPACT REQUESTED

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

Attorney General – Division of Criminal Investigation

Prepared by:   Dean Temte, LSO  Phone: 777-7881

(Information provided by Kevin Smith, D.C.I.; 777-7181:

Charles E. Moore, Pari-Mutuel Commission; (307) 265-4015)