S.B. 1148: COMMITTEE SUMMARY

S.B. 1148: COMMITTEE SUMMARY - LOTTERY PAYOUT

Senate Bill 1148 (as introduced 5-19-98)

Date Completed: 5-20-98

CONTENT

The bill would amend the Lottery Act to extend from January 1, 1999, to January 1, 2003, the date upon which lottery prize payouts will have to be 45% of the total annual revenue from sales of lottery tickets or shares.

Currently, under the Act, on or after January 1, 1999, 45% of the total revenue from the sale of lottery tickets or shares must be apportioned for the payment of prizes; until that date, as nearly as is practicable, prize payouts must be at least 45%, meaning that the Bureau of State Lottery can set the payout at a higher percentage.

MCL 432.12 - Legislative Analyst: G. Towne

FISCAL IMPACT

There would be a positive fiscal impact on State government. At this time, there are no data available to indicate how much revenue would increase.

- Fiscal Analyst: E. Limbs

S9798\S1148SA

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.