The following summary was derived from information released by the office of Governor Rick Perry:

Governor Rick Perry will sell the Texas lottery for a conservatively estimated $14 billion, allowing the state to invest in secure trust funds which would annually generate nearly $1.3 billion interest, $300 million more than yearly lottery returns. The annual interest gained from the sale of the lottery will establish trust funds in perpetuity for cancer research efforts, public education, and a premium assistance program for the uninsured.

$270 million of the annual trust fund earnings is proposed to create a premium assistance program for the uninsured. More than 2 million uninsured Texans are below 200 percent of the federal poverty limit. Perry's proposed "Healthier Texas" program would help individuals purchase health insurance through employer-based programs or private plans.

Source: Press Release (2/8/07)
To learn more, please visit http://www.governor.state.tx.us/divisions/press/pressreleases/PressRelease.2007-02-08.3152