Colorado voters face lottery privatization issue

COLORADO – As reported by the Denver Post: "Colorado voters would be asked to privatize the state lottery - raising more than $2 billion - under a constitutional amendment proposed Tuesday.

"Sen. Chris Romer, D-Denver, and Sen. Josh Penry, R-Grand Junction, are teaming up to promote a plan that would raise money for college scholarships, public schools, open-space purchases and veterans' services.

"The proposal calls for selling an 'operating concession contract' in the lottery for up to 75 years with the state receiving a lump-sum payment in exchange for future proceeds.

"…The resolution, which needs support from two-thirds of the members of the state legislature before it could appear on the November ballot, is expected to be introduced this week.

"…But just how much a lottery sale would bring in is unknown - the plan's sponsors estimated it at between $2.2 billion and $2.6 billion…"