SB-1208, As Passed Senate, November 30, 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SENATE BILL No. 1208

 

 

April 19, 2006, Introduced by Senators SWITALSKI and SCOTT and referred to the Committee on Appropriations.

 

 

 

     A bill to amend 1972 PA 239, entitled

 

"McCauley-Traxler-Law-Bowman-McNeely lottery act,"

 

by amending section 12 (MCL 432.12), as amended by 2002 PA 471.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 12. (1) Except as otherwise provided in subsection (3),

 

as nearly as is practicable, until January 1,  2007  2012, not less

 

than 45% of the total annual revenue accruing from the sale of

 

lottery tickets or shares shall be apportioned for payment of

 

prizes to the holders of winning tickets or shares.

 

     (2) On or after January 1,  2007  2012, 45% of the total

 

revenue shall be apportioned for payment of prizes.

 

     (3) Notwithstanding subsections (1) and (2), the prize money

 

from the sale of tickets or shares of any joint enterprise is that

 


percentage of the total annual revenue accrued from that game as

 

prescribed by the joint enterprise participation agreement executed

 

by the commissioner.