|
Since its inception in 1972, the Michigan Lottery has generated $15.9 billion in net revenues to support K-12 public education in Michigan. In fiscal 2010 alone, the Lottery transferred $701.3 million directly to the state School Aid Fund.
The School Aid Fund is a restricted fund that can only be used for education. Lottery revenues comprise roughly 5 percent of this fund, with the other 95 percent of the money coming from the state's sales and use tax, earmarked income tax and state education property tax, as well as cigarette, liquor and other taxes.
|