SENATE BILL 309

57th legislature - STATE OF NEW MEXICO - second session, 2026

INTRODUCED BY

Roberto "Bobby" J. Gonzales

 

 

 

 

 

AN ACT

RELATING TO THE LOTTERY; REQUIRING MONTHLY NET RECEIPTS FROM THE SALE OF LOTTERY GAMES TO BE DEPOSITED IN THE LOTTERY TUITION FUND; PROVIDING FOR MINIMUM ANNUAL DEPOSITS; PROVIDING FOR REVERSION BACK TO THIRTY PERCENT OF GROSS REVENUE EACH MONTH IF MINIMUM ANNUAL DEPOSITS ARE NOT REALIZED.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 6-24-24 NMSA 1978 (being Laws 1995, Chapter 155, Section 24, as amended) is amended to read:

     "6-24-24. DISPOSITION OF REVENUE.--

          A. As nearly as practical, an amount equal to at least fifty percent of the gross annual revenue from the sale of lottery [tickets] games shall be returned to the public in the form of lottery prizes.

          B. No later than the last business day of each month, the authority shall transmit [at least twenty-seven percent of the gross] as nearly as practicable the net revenue of the previous month [until December 31, 2008 and at least thirty percent of the gross revenue of the previous month thereafter] to the state treasurer, who shall deposit it in the lottery tuition fund. In fiscal years 2027 through 2029, if the deposit of net revenue for two consecutive fiscal years is less than forty-three million dollars ($43,000,000) annually, the authority shall be required to deposit monthly thirty percent of the gross revenue of the previous month. In fiscal year 2030 and succeeding fiscal years, if the deposit of net revenue for two consecutive fiscal years is less than forty-five million dollars ($45,000,000) annually, the authority shall be required to deposit monthly thirty percent of the gross revenue of the previous month.

          C. Operating expenses of the lottery include all costs incurred in the operation and administration of the lottery and all costs resulting from any contracts entered into for the purchase or lease of goods or services required by the lottery, including the costs of supplies, materials, tickets, independent audit services, independent studies, data transmission, advertising, promotion, incentives, public relations, communications, commissions paid to lottery retailers, printing, distribution of tickets, purchases of annuities or investments to be used to pay future installments of winning lottery tickets, debt service and payment of any revenue bonds issued, contingency reserves, transfers to the reserve fund and any other necessary costs incurred in carrying out the provisions of the New Mexico Lottery Act."

     SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2026.

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