The Mississippi Lottery Corperation has announced its first transfer to the state budget for the FY 2022 year. In July they transferred $8,846,238.86 in net proceeds to the Lottery Proceeds Fund in the Mississippi State Treasury.
This is the first deposit for Fiscal Year 2022, which began July 1, 2021.
RELATED: MS Lottery transfers over $138 million to the state in FY2021
In accordance with law the first $80 million of lottery funds goes to the transportation. Any additional funds after that is diverted to education needs.
The Lottery was able to transfer close to $138 million to the Lottery Proceeds Fund in FY2021. In accordance with the Alyce G. Clarke Lottery Law, the MLC is required to transfer net proceeds within 20 days following the close of each calendar month.