Senate Approves Lottery Privatization Bill
The Senate today approved a bill that could privatize the state’s education lottery.
Senator John Ford said the lottery has not made as much money for education as supporters had claimed. He said privatization might create a more efficient operation.
"Senate Bill 2173 calls for the creation of an eight-person Oklahoma Lottery Asset Review Board to determine whether privatization could result in better revenues for education,” Ford said. “If six of the eight members agree that it would and the governor then concurs with their findings, a private company would then take over the operation of the lottery.”
Ford, who represents Craig, Nowata and Washington Counties, said the state would still maintain ongoing oversight. If the company failed to meet the terms and standards negotiated by the Lottery Asset Review Board, the state would terminate the contract.
Ford said his legislation would not change the current distribution of the Oklahoma Education Lottery Trust Fund. The measure now goes to the House for further consideration.
Senator John Ford said the lottery has not made as much money for education as supporters had claimed. He said privatization might create a more efficient operation.
"Senate Bill 2173 calls for the creation of an eight-person Oklahoma Lottery Asset Review Board to determine whether privatization could result in better revenues for education,” Ford said. “If six of the eight members agree that it would and the governor then concurs with their findings, a private company would then take over the operation of the lottery.”
Ford, who represents Craig, Nowata and Washington Counties, said the state would still maintain ongoing oversight. If the company failed to meet the terms and standards negotiated by the Lottery Asset Review Board, the state would terminate the contract.
Ford said his legislation would not change the current distribution of the Oklahoma Education Lottery Trust Fund. The measure now goes to the House for further consideration.
Labels: John Ford, Lottery Privatization
posted by Mike McCarville @ 4:26 PM
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