PRINTER'S NO. 3029
No. 2365 Session of 1992
INTRODUCED BY BOYES, CAWLEY, CIVERA, FARGO, CLARK, JOHNSON,
VAN HORNE, CAPPABIANCA, NAHILL, KENNEY, SCRIMENTI, KOSINSKI,
KRUSZEWSKI, MARKOSEK, CORNELL, PERZEL, OLASZ, TOMLINSON AND
RICHARDSON, FEBRUARY 3, 1992
REFERRED TO COMMITTEE ON FINANCE, FEBRUARY 3, 1992
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 further providing for the powers and duties of the Secretary
8 of Revenue.
9 The General Assembly of the Commonwealth of Pennsylvania
10 hereby enacts as follows:
11 Section 1. Section 6(a)(3) of the act of August 26, 1971
12 (P.L.351, No.91), known as the State Lottery Law, is amended to
13 read:
14 Section 6. Powers and Duties of the Secretary of Revenue.--
15 (a) In addition to the powers and duties provided by law and
16 "The Administrative Code of 1929," the Secretary of Revenue
17 shall have the power and it shall be his duty to operate and
18 administer the lottery, and to promulgate rules and regulations
19 governing the establishment and operation thereof, including but
20 not limited to:
1 * * *
2 (3) The numbers and sizes of the prizes on the winning
3 tickets or shares provided that, for prizes of one million
4 dollars ($1,000,000) or more and payable in more than one
5 installment, the winner shall have the option to accept as full
6 payment of the prize won, a lump sum equal to the initial
7 payment plus the amount the Commonwealth would have to pay for
8 an annuity contract payable over the period normally required,
9 with a total annuity value equal to the prize, less the initial
10 payment.
11 * * *
12 Section 2. This act shall take effect in 60 days.
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