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A BILL TO BE ENTITLED
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AN ACT
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relating to the regulation of certain sweepstakes in this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 622, Business & Commerce |
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Code, is amended by adding Section 622.062 to read as follows: |
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Sec. 622.062. CERTAIN SWEEPSTAKES. (a) This chapter does |
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not apply to a sweepstakes that: |
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(1) has awarded one or more cash prizes valued at not |
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less than $1 million dollars based on chance or the random selection |
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of entries in each of the preceding five calendar years; |
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(2) does not require a purchase or payment for entry in |
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the sweepstakes or to win a prize; |
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(3) is operated by a person under and in voluntary |
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compliance with a consent judgment to which this state is a party or |
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under a similar agreement between the person and this state that |
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governs the marketing practices of the sweepstakes; and |
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(4) is operated by a person who has not been subject to |
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an enforcement proceeding under a consent judgment or any other |
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applicable state law regarding advertising or marketing practices |
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during the preceding five years. |
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(b) For purposes of this section, the value of a cash prize |
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awarded is the greatest of the prize's: |
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(1) face value; |
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(2) fair market value; or |
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(3) present financial value. |
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SECTION 2. This Act takes effect September 1, 2017. |