LOTTERY DEPOSITS INTO TUITION FUND

SB 309 requires the New Mexico Lottery Authority to deposit monthly net lottery revenue into the Lottery Tuition Fund, directly affecting the state's lottery operations and education funding. It sets minimum annual deposit targets ($43 million for 2027-2029, $45 million for 2030+), triggering a requirement to deposit 30% of monthly gross lottery revenue if these targets aren't met for two consecutive years. The bill clarifies that operating costs (like prizes, administration, and retailer commissions) are excluded when calculating deposits. This change ensures consistent funding for education by mandating specific revenue transfers from lottery sales.