1997 Regular Session

HOUSE BILL 459

File Code: Agencies, Offices, and Officials
Sponsored By:
Delegates Gordon and Bozman
Entitled:
State Lottery - Prizes - Lump Sum Payment

Synopsis:

Requiring the Director of the State Lottery Agency to give a prize winner the option to receive a lump sum payment equalling the present cash value of a prize instead of an annuity when the prize for the winning ticket equals or exceeds $250,000; requiring the Director to determine the present cash value of a prize; requiring a player who wishes to receive a lump sum payment to exercise the option to do so when purchasing the winning ticket; and prohibiting the revocation of an option to receive a lump sum payment of a prize.

Legislative History

House Action
1/27
First Reading Ways and Means
2/5
Hearing 2/20 at 1:00 p.m.
3/10
Unfavorable Report by Ways and Means
3/13
Withdrawn
Senate Action
No Action
Sponsored by:
Delegate Michael R. Gordon, District 17
Delegate K. Bennett Bozman, District 38
Bill indexed under the following Subjects:
ADMINISTRATIVE AGENCIES
LOTTERY
Bill affects the following Statutes:
State Government
( 9-101 , 9-122.1 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)