Montana § 23-7-402 - Disposition Of Revenue

§ 23-7-402. Disposition Of Revenue

Disposition of revenue. (1) A minimum of 45% of the money paid for tickets or chances must be paid out as prize money. The prize money is statutorily appropriated, as provided in 17-7-502 , to the state lottery. (2) Commissions paid to lottery ticket or chance sales agents are not a state lottery operating expense. (3) That part of all gross revenue not used for the payment of prizes, commissions, and operating expenses, together with the interest earned on the gross revenue while the gross revenue is in the enterprise fund, is net revenue. Net revenue must be transferred quarterly from the enterprise fund established by 23-7-401 in the following order: (a) the first $2.25 million of net revenue in each fiscal year must be transferred quarterly in equal payments of $562,500 to the Montana STEM scholarship program special revenue account established in 20-26-617 ; and (b) net revenue in excess of $2.25 million in each fiscal year must be transferred to the state general fund. (4) The spending authority of the state lottery may be increased in accordance with this section upon review and approval of a revised operation plan by the office of budget and program planning.