LUMP SUM LOTTO PRIZE - H.B. 5127 (S-2): FLOOR ANALYSIS

House Bill 5127 (Substitute S-2 as reported)

Sponsor: Representative Dave Jaye

House Committee: Regulatory Affairs

Senate Committee: Gaming and Casino Oversight

CONTENT

The bill would amend the Lottery Act to require the Bureau of State Lottery to give a prizewinner in the Michigan Lotto game the option of receiving a prize in a single payment or in installments. The option would have to be made available, and exercised by the purchaser of a Lotto game ticket at the point of purchase.

MCL 432.25 - Legislative Analyst: G. Towne

FISCAL IMPACT

Since players are already given the single payment versus the installment option, this new provision would have no fiscal impact on State or local government.

Date Completed: 11-24-98 - Fiscal Analyst: E. LimbsFLOOR\HB5127 - Analysis available @ http://www.michiganlegislature.org

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.