Mississippi Lottery has now transferred $83.8 million to State this fiscal year

Published 3:00 pm Thursday, March 17, 2022

The Mississippi Lottery Corporation has transferred net proceeds of $83,802,303.97 to the State Treasury so far in Fiscal Year 2022.

February’s transfer was $9,410,686.64.

The Lottery Law stipulates the first $80 million in net proceeds must go to road and bridge needs around the state for the first 10 years. Approved by the Legislature in 2018, the lottery began in November 2019 under the Alyce G. Clarke Mississippi Lottery Law. The first $80 million will be placed into the State Highway Fund until June 30, 2028.

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Net proceeds beyond $80 million go to the Education Enhancement Fund. The February transfer puts $3,802,303.97 into that fund. From July 1, 2028, the net proceeds will continue to be deposited into the Lottery Proceeds Fund and transferred to the State General Fund, except for amounts over $80 million, which will continue to be placed into 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.”