The New Mexico state legislature is running out of time to pass a lottery scholarship bill that could benefit thousands of college students.
The bill would require the New Mexico Lottery Association to pay a minimum of $40 million into scholarships and transfer any unclaimed winnings to the fund each year. It would also put a cap on operation costs.
“This is good for students because it means more money for the lottery scholarship fund,” president of UNM's student association Noah Brooks said.
The scholarship is vital for UNM and any cuts in funding would hurt students, he said. He’s anxious that the bill won’t get heard before Thursday’s deadline, but he’s confident lawmakers will find a solution.
The state lottery association came out against the measure because it would prevent them from raising lottery payouts which in turn could make it harder to increase revenue.