|
HOUSE BILL 1799 |
HOUSE AUTHOR: P. King et al. |
|
EFFECTIVE: 9-1-99 |
SENATE SPONSOR: Armbrister |
House Bill 1799 amends the State Lottery Act to repeal the prohibition against the assignment of lottery prizes and allow a lottery winner to assign prize payments by an order of a district court of Travis County except payments due within the final two years of the payment schedule. The district court is required to approve a voluntary assignment of payments and to order the lottery commission to direct payments to the assignee after certain clerical, legal, tax, and advisory obligations are completed.
In addition, the act requires that unclaimed money, up to $40 million each biennium, is to be deposited to the credit of the Texas Department of Health state-owned multicategorical teaching hospital, with any additional amount in excess of $40 million to be deposited in the tertiary care facility account.