85R11497 GCB-F
 
  By: Oliveira H.B. No. 2828
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the regulation of certain sweepstakes in this state.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  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 dollars 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.
         SECTION 2.  This Act takes effect September 1, 2017.