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.