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Amend CSSB 2065 (house committee report) by adding the following appropriately numbered ARTICLE to the bill and renumbering the ARTICLES of the bill accordingly:
ARTICLE ____. SWEEPSTAKES
SECTION ____.001. Subchapter B, Chapter 622, Business & Commerce Code, is amended by adding Section 622.062 to read as follows:
Sec. 622.062. CERTAIN SWEEPSTAKES. (a) This chapter does not apply to a sweepstakes that:
(1) has awarded one or more cash prizes valued at not less than $1 million based on chance or the random selection of entries in each of the preceding five calendar years;
(2) does not require a purchase or payment for entry in the sweepstakes or to win a prize;
(3) is operated by a person under and in voluntary compliance with a consent judgment to which this state is a party or under a similar agreement between the person and this state that governs the marketing practices of the sweepstakes; and
(4) is operated by a person who has not been subject to an enforcement proceeding under a consent judgment or any other applicable state law regarding advertising or marketing practices during the preceding five years.
(b) For purposes of this section, the value of a cash prize awarded is the greatest of the prize's:
(1) face value;
(2) fair market value; or
(3) present financial value.