PRIOR PRINTER'S NO. 577 PRINTER'S NO. 926
No. 544 Session of 1995
INTRODUCED BY ALLEN, BOYES, TRELLO, NYCE, BELFANTI, PHILLIPS,
ARGALL, FAIRCHILD, CLARK, JAMES, MAITLAND, TULLI, MICOZZIE,
M. COHEN, STABACK, FICHTER, OLASZ, PETRONE, KAISER, HORSEY,
MASLAND, LYNCH, VAN HORNE, McCALL, RAYMOND, BROWN, BUNT,
MARKOSEK, HENNESSEY, CIVERA, BROWNE, HESS, GEIST, SEMMEL,
DENT, MERRY, D. W. SNYDER, KING, HARHART, HUTCHINSON, ZUG,
HANNA, SCRIMENTI, HABAY, RUBLEY, GANNON, SAYLOR, GRUPPO AND
NAILOR, FEBRUARY 2, 1995
AS REPORTED FROM COMMITTEE ON FINANCE, HOUSE OF REPRESENTATIVES,
AS AMENDED, FEBRUARY 14, 1995
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) 6(A)(5) of the act of August 26, <--
12 1971 (P.L.351, No.91), known as the State Lottery Law, is
13 amended to 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
1 administer the lottery, and to promulgate rules and regulations
2 governing the establishment and operation thereof, including but
3 not limited to:
4 * * *
5 (3) The numbers and sizes of the prizes on the winning <--
6 tickets or shares
7 (5) THE MANNER OF PAYMENT OF PRIZES TO THE HOLDERS OF <--
8 WINNING TICKETS OR SHARES: Provided, however That, for prizes of
9 one million dollars ($1,000,000) or more and payable in more
10 than one installment, the winner shall have the option to
11 accept, as full payment of the prize won, a lump sum equal to
12 the initial payment plus the amount the Commonwealth would have
13 to pay for an annuity contract payable over the period normally
14 required, with a total annuity value equal to the prize, less
15 the initial payment.
16 * * *
17 Section 2. This act shall take effect in 60 days.
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