Michigan Lottery contributes $1B to school fund for the 1st time

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A Powerball sign shows an estimated jackpot of $1.5 billion at Coach Liquor in Detroit, Wednesday, Jan. 13, 2016. A lottery official says the estimated Powerball jackpot will be over a billion. (AP Photo/Paul Sancya)

The Michigan Lottery has raised more than $1 billion for public schools for the first time.

Wednesday, the lottery announced that it contributed more than $1 billion to the school aid fund in the last fiscal year.

That’s a $129 million boost over the prior year. It’s the largest one-year increase in the lottery’s 47-year history and the fifth straight year of record-setting contributions to the school fund.

The fund also is funded with sales and use taxes, income taxes, property taxes, some federal funds, cigarette, liquor and other taxes.

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