Anti-Lottery bill could cost state millions in revenue
(WRCB) – A pair of bills working their way through the legislature could cost the state nearly $23 million dollars in lottery sales.
The bills, HB 3063 and companion SB 2154, seeks to make it illegal to advertise lottery sales on television, radio or billboards.
The bills, introduced by Representative John Ragan (R- Oak Ridge)in the House and Senator Jim Summerville (R- Dickson County) in the Senate, would only allow the Tennessee Education Lottery Corporation to place advertisements next to the register where the tickets are sold.
The General Assembly Fiscal Review Committee estimates the bill, if passed, could cost Tennessee $22,950,000 in lost revenue.
According to the Fiscal Review Committee, the lottery gains approximately ten dollars in revenue for every dollar they spend on advertising. [View the Fiscal Review Committee's report]
The Senate version of the bill is expected to go before the State and Local Government Committee on Tuesday.