H.B. 5127: COMMITTEE SUMMARY - LUMP SUM LOTTERY PRIZE

House Bill 5127 (as passed by the House)

Sponsor: Representative Dave Jaye

House Committee: Regulatory Affairs

Senate Committee: Gaming and Casino Oversight

Date Completed: 11-9-98

CONTENT

The bill would amend the Lottery Act to require the Bureau of State Lottery to give a prizewinner 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 the 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 bill would have no fiscal impact on State or local government.

- Fiscal Analyst: E. Limbs

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.