Democratic Leaders: Consider Leasing Lottery

(Photo by Jim Slosiarek, the Gazette)

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By Becky Ogann

Story Created: Jan 9, 2009 at 3:03 PM CST

Story Updated: Jan 9, 2009 at 3:03 PM CST

JOHNSTON (AP) - Two Democratic legislative leaders say they want to consider a proposal to privatize the state's lottery to help cover a gaping budget shortfall.

House Speaker Pat Murphy and Senate Majority Leader Michael Gronstal say they ultimately may not support leasing out the lottery, but it's worth taking a look at the idea.

A business group has spoken with Gov. Chet Culver about such a lease. Some have speculated that the state could get annual payments of $100 million to $200 million, plus an initial lump sum of up to $300 million.

The state is facing a budget gap in the coming year of roughly $600 million or more.

Murphy and Gronstal discussed the matter Friday during taping of Iowa Public Television's "Iowa Press" program.

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