November 3, 2011, Introduced by Rep. Poleski and referred to the Committee on Regulatory Reform.
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 2006 PA 625.
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, 2012, 2013, 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, 2012, 2013,
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.