PRINTER'S NO. 3921
No. 2735 Session of 1986
INTRODUCED BY SEVENTY, MURPHY, TRELLO, GAMBLE, STEIGHNER,
PRESTON, STEWART, VAN HORNE, OLASZ, CLARK, VEON, MRKONIC,
COLAFELLA, DUFFY, DeLUCA, STABACK, LAUGHLIN, COWELL,
DOMBROWSKI, MAYERNIK, PETRONE, LINTON AND F. TAYLOR, JULY 29,
1986
REFERRED TO COMMITTEE ON FINANCE, JULY 29, 1986
AN ACT
1 Amending the act of August 26, 1971 (P.L.351, No.91), entitled
2 "An act providing for a State Lottery and administration
3 thereof; authorizing the creation of a State Lottery
4 Commission; prescribing its powers and duties; disposition of
5 funds; violations and penalties therefor; exemption of prizes
6 from State and local taxation and making an appropriation,"
7 creating a Lottery Investment Board.
8 The General Assembly of the Commonwealth of Pennsylvania
9 hereby enacts as follows:
10 Section 1. The act of August 26, 1971 (P.L.351, No.91),
11 known as the State Lottery Law, is amended by adding a section
12 to read:
13 Section 6.1. Lottery Investment Board.--(a) There is
14 created a Lottery Investment Board, consisting of five members.
15 Of the five members, one shall be the Secretary of Revenue, two
16 shall be members of the Senate of Pennsylvania, appointed by the
17 President pro tempore, one from the majority party and one from
18 the minority party, and two shall be members of the House of
19 Representatives, appointed by the Speaker of the House of
1 Representatives, one from the majority party and one from the
2 minority party. Each member of the General Assembly shall serve
3 for a two-year term and may be reappointed.
4 (b) Notwithstanding any provision of this act to the
5 contrary, the Lottery Investment Board shall have the power and
6 its duty shall be to prudently invest the moneys in the Lottery
7 Fund.
8 Section 2. This act shall take effect in 60 days.
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