H.B. 4662: COMMITTEE SUMMARY                                                      LOTTERY PAYOUT CAP

House Bill 4662

Sponsor: Representative Susan Grimes Munsell House Committee: Regulatory Affairs

Senate Committee: Local, Urban, and State Affairs Date Completed: 4-26-95

SUMMARY OF HOUSE BILL 4662 as passed by the House:

The bill would amend the Lottery Act to specify that, as nearly as is practicable, not less than 45% of the total annual revenue accruing from the sale of lottery tickets or shares would have to be apportioned for payment of prizes to the holders of winning tickets or shares.

Currently, the Act requires that, as nearly as practicable, 45% of the annual revenue be paid out as prizes.

MCL 432.12                                                                                       Legislative Analyst: L. Arasim

FISCAL IMPACT

According to the Bureau of State Lottery, the bill would increase lottery ticket sales by $500 million to $700 million per year.  The revenue to the School Aid Fund would increase by $71 million to $121 million.

Fiscal Analyst: L. Nacionales-Tafoya

S9596\S4662SA

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.

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