The Oklahoma Lottery Commission hopes to propose legislation in the upcoming legislative session, pending support from legislators.
The commission hopes to propose four different items, the first of which would grant relief from the 35 percent minimum mandated profit.
In December of 2007, the commission tried to change the mandated profit, but was unsuccessful. This legislation currently in place requires 35 percent of the net profit per fiscal year to be given to state education.
This was created to maximize net proceeds available for educational purposes, though the commission claims it has the opposite effect.
In the 2007 report, the commission stated that mandating a profit percentage inhibits the lottery’s ability to provide a greater prize percentage payout in various games, which inhibits sales and profits.
The report requests legislative action to remove the profit percentage mandate in order to see growth in sales and provide additional “real dollar” funding for education.
The commission also hopes to propose legislation to move from cash-only to allowing individuals to pay with debit cards.
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