AR SB119

Establishes a prize-linked savings account program to be operated by the Arkansas Lottery Commission as a type of lottery game under state law.

Allows the commission to deposit a minimum of $25 on behalf of players into interest-bearing savings accounts at financial institutions, with deposits held in trust for individual patrons.

Provides patrons with opportunities to win monthly and annual prizes while earning interest on their deposits at rates comparable to standard savings accounts offered by the depository institution.

Permits patrons to withdraw funds at any time, though withdrawals may affect eligibility for prizes, and allows the commission to offer incentives for retaining funds and depositing cash winnings back into accounts.

Designates interest earned on prize-linked savings accounts as lottery proceeds, and requires ticket sales to be for cash only consistent with existing lottery regulations.