Proceeds Help Scholarship Program
October 28, 2003--A portion of Nebraska Lottery proceeds now help support higher-education scholarships.Administered by the Coordinating Commission for Post-Secondary Education, the Nebraska Scholarship Program offers need-based scholarships to students in the University of Nebraska System, Nebraska State College System, and Community College System. Numerous private career schools also participate in the program, which receives a combination of federal funds, State General Fund dollars and Nebraska Lottery proceeds.Effective July 1, 2003, one half of the Nebraska Lottery proceeds previously directed to the Education Innovation Fund go to the Nebraska Scholarship Fund. The Education Innovation Fund and the Nebraska Scholarship Fund each receive 24.75 percent of Nebraska Lottery proceeds.Using a formula created by the Legislature, proceeds are distributed quarterly among the Education Innovation Fund (24.75 percent), Nebraska Scholarship Fund (24.75 percent), Nebraska Environmental Trust Fund (49.5 percent), and the Compulsive Gamblers Assistance Fund (1 percent, plus the first $500,000 in fund proceeds each fiscal year).A total of $188,856,536 has been transferred to beneficiary funds since the Nebraska Lottery began operation on September 11, 1993.The funds' respective totals to date are: Education Innovation Fund, $91,482,549; Nebraska Scholarship Fund, $1,011,436; Nebraska Environmental Trust Fund, $74,032,989; and Compulsive Gamblers Assistance Fund, $3,868,566. Prior to July 1, 1997, the Solid Waste Landfill Closure Assistance Fund received proceeds totaling $18,460,996.Proceeds are transferred quarterly, and the Nebraska Scholarship Fund received its first Lottery proceeds in mid-September.Criteria for proceeds distribution are established by the beneficiary funds in accordance with legislative mandates. Every county in Nebraska has received service through more than 900 major grants funded with Nebraska Lottery proceeds.
Published on 10/27/2003