State Agencies of Louisiana - Louisiana Lottery (Paperback)

Chapters: Louisiana Lottery. Source: Wikipedia. Pages: 41. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: The Louisiana Lottery Corporation (LLC) began in 1991, after the 1990 Louisiana legislature proposed a government-run lottery (ACT 1045) as a way to generate revenue without increasing taxes. Due to the Lottery's unique operations, the Legislature recognized a corporate structure would suit it best.Voters also liked the idea, passing a constitutional amendment in 1990 creating the LLC by a 69% to 31% margin. In 2003, voters passed another constitutional amendment to dedicate Lottery proceeds to the Minimum Foundation Program that funds public education in Louisiana.Todays Lottery is not the first in Louisiana; in 1868, a group of entrepreneurs began a private business, the Louisiana State Lottery Company. It promised to donate $40,000 for 25 years (yearly or total?) to Charity Hospital in New Orleans in exchange for the hospital not having to pay taxes. Tickets were sold nationwide to make it the largest lottery in the country. After charges of corruption, it moved to Honduras, ending 22 years later.The president of the Louisiana Lottery Corporation handles the daily activities involved with running the corporation under the supervision of the Lotterys nine-member governing board of directors. Board members are appointed to staggered terms from each of Louisianas seven congressional districts; one member is chosen from a list of five candidates submitted by the Louisiana Oil Marketers and Convenience Store Association; and one member is appointed at-large. Each member is appointed by the governor and confirmed by the Louisiana Senate before beginning a four-year term. Louisiana's treasurer serves as an ex-officio board member. To ensure the highest level of accountability, the follo...More: http: //booksllc.net/?id=1098539