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A BILL TO BE ENTITLED
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AN ACT
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relating to a limitation on the percentage of state lottery money |
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paid as prizes to winning ticket holders. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 466.355(b), Government Code, is amended |
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to read as follows: |
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(b) Money in the state lottery account may be used only for |
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the following purposes and shall be distributed as follows: |
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(1) the payment of prizes to the holders of winning |
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tickets, provided the payment of prizes in a fiscal biennium may not |
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exceed an amount equal to 40 percent of the gross revenue accruing |
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from the sale of tickets in that biennium; |
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(2) the payment of costs incurred in the operation and |
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administration of the lottery, including any fees received by a |
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lottery operator, provided that the costs incurred in a fiscal |
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biennium may not exceed an amount equal to 12 percent of the gross |
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revenue accruing from the sale of tickets in that biennium; |
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(3) the establishment of a pooled bond fund, lottery |
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prize reserve fund, unclaimed prize fund, and prize payment |
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account; and |
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(4) the balance, after creation of a reserve |
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sufficient to pay the amounts needed or estimated to be needed under |
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Subdivisions (1) through (3), to be transferred on or before the |
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15th day of each month as follows: |
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(A) the portion of the balance attributable to |
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the lottery game operated under Section 466.027 to the fund for |
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veterans' assistance established by Section 434.017; and |
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(B) the remainder to the foundation school fund. |
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SECTION 2. Section 466.355, Government Code, as amended by |
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this Act, applies beginning with the state fiscal biennium |
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beginning September 1, 2025. |
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SECTION 3. This Act takes effect September 1, 2025. |