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Senate committee approves bill to stabilize lottery-funded scholarships
Summary
Senate Bill 5 84, sponsored by Sen. Jim Hickey, was approved by the committee. The bill uses trust funds and a multi-year formula to align scholarship payouts with lottery proceeds and delays new or amended scholarships for at least one year to ensure funding.
Senator Jim Hickey (Arkansas Senate) presented Senate Bill 5 84 to the Senate Education Committee as a comprehensive approach to stabilize lottery-funded scholarships. Hickey described the bill as a multi-part fix: use existing trust funds to fully fund scholarships for the 12-month period between July 1, 2021, and June 30, 2022; park lottery operating revenue during that period to calculate a conservative baseline for future scholarship funding; and require that new or amended scholarships be introduced within the first 31 days of a regular session for joint review by the house and senate education committees. "What…
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