LOTTERY DEPOSITS INTO TUITION FUND

SB0309

SENATE BILL 309

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Roberto "Bobby" J. Gonzales

AN ACT

RELATING TO THE LOTTERY; REQUIRING MONTHLY NET RECEIPTS FROM
THE SALE OF LOTTERY GAMES TO BE DEPOSITED IN THE LOTTERY
TUITION FUND; PROVIDING FOR MINIMUM ANNUAL DEPOSITS; PROVIDING
FOR REVERSION BACK TO THIRTY PERCENT OF GROSS REVENUE EACH
MONTH IF MINIMUM ANNUAL DEPOSITS ARE NOT REALIZED.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

SECTION 1.
Section 6-24-24 NMSA 1978 (being Laws 1995,
Chapter 155, Section 24, as amended) is amended to read:

"6-24-24. DISPOSITION OF REVENUE.--

A. As nearly as practical, an amount equal to at
least fifty percent of the gross annual revenue from the sale
of lottery [
tickets
]
games
shall be returned to the public in
the form of lottery prizes.

B. No later than the last business day of each
month, the authority shall transmit [
at least twenty-seven
percent of the gross
]
as nearly as practicable the net
revenue
of the previous month [
until December 31, 2008 and at least
thirty percent of the gross revenue of the previous month
thereafter
] to the state treasurer, who shall deposit it in the
lottery tuition fund.
In fiscal years 2027 through 2029, if
the deposit of net revenue for two consecutive fiscal years is
less than forty-three million dollars ($43,000,000) annually,
the authority shall be required to deposit monthly thirty
percent of the gross revenue of the previous month. In fiscal
year 2030 and succeeding fiscal years, if the deposit of net
revenue for two consecutive fiscal years is less than
forty-five million dollars ($45,000,000) annually, the
authority shall be required to deposit monthly thirty percent
of the gross revenue of the previous month.

C. Operating expenses of the lottery include all
costs incurred in the operation and administration of the
lottery and all costs resulting from any contracts entered into
for the purchase or lease of goods or services required by the
lottery, including the costs of supplies, materials, tickets,
independent audit services, independent studies, data
transmission, advertising, promotion, incentives, public
relations, communications, commissions paid to lottery
retailers, printing, distribution of tickets, purchases of
annuities or investments to be used to pay future installments
of winning lottery tickets, debt service and payment of any
revenue bonds issued, contingency reserves, transfers to the
reserve fund and any other necessary costs incurred in carrying
out the provisions of the New Mexico Lottery Act."

SECTION 2.
EFFECTIVE DATE.--The effective date of the
provisions of this act is July 1, 2026.

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