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Withdrawn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)