Indiana lottery bill released

INDIANAPOLIS, Indiana – As reported by the Louisville Courier-Journal: "Private companies seeking to operate the Hoosier Lottery couldn't rely on expanded gambling to increase profits under a bill filed yesterday.

"That might dampen enthusiasm among companies interested in Gov. Mitch Daniels' plan to lease the lottery to a private operator and use the proceeds to create scholarships and boost spending on higher education, one gambling consultant said.

"…Sen. Jim Merritt, R-Indianapolis, filed legislation yesterday to authorize Daniels' lottery proposal.

"It would require a company to bid at least $1 billion to operate the lottery for 30 years and pay the state another $200 million annually, money lawmakers would use to maintain existing programs.

"The bill allocates 60 percent of the private firm's upfront payment to a scholarship fund for the state's brightest students and the remaining 40 percent to lure top researchers to Indiana universities…"