Since it began 16 years ago, the South Carolina Education Lottery has generated more than 5 billion dollars towards education.
Lawmakers are trying to use 20 million dollars from the South Carolina Education lottery to buy new buses for the state, but Gov. Henry McMaster vetoed that saying that’s not the way lottery money was intended to be spent. The South Carolina house of representatives overrode that veto earlier this week, but a senate vote is also still necessary.
By law, there are very specific items within education for which the money is to be used.
Here’s a breakdown on how each dollar spent on the state education lottery is being used by South Carolina. According to the latest figures from the South Carolina Education Lottery website, 66 cents of each dollar goes to pay out the winners.
The stores that sold the winning ticket gets about 7 cents commission.
After paying lottery employees to run the games and oversee the operations and advertising worth 2 cents worth of the dollar, it leaves about a quarter left to actually be spent on education.
20 cents of the education funding goes to higher education, libraries, scholarships and other programs. Roughly four pennies of that dollar makes its way down to the local classroom.
The law is clear that the lottery money is to be used to supplement funding to the school districts not as a replacement for it. Gov. McMaster says that if the state starts to raid the lottery fund now to pay for buses, it will open the door to use the funding for other things.
Copyright 2018 WCSC. All rights reserved.