CA AB363

Changes the deadline for the Controller's lottery revenue reports to the Legislature from September 1 to December 31 and March 31 for the initial five-year period following enactment of lottery revenue allocation provisions.

Extends the operation of lottery revenue allocation provisions until April 1 of the year following the Controller's notification to the Legislature and Governor that specified revenue targets have been met, rather than December 31.

Maintains the requirement that at least 87 percent of total annual lottery revenues be returned to the public as prizes and education funding, with the commission determining prize percentages (minimum 50 percent) and allocating remaining amounts to maximize education benefits.

Requires the Controller to convene a lottery review group consisting of the Controller, Superintendent of Public Instruction, and commission chairperson to report by March 31 on whether the amendments have furthered the purposes of the California State Lottery Act of 1984.

Declares that the bill's provisions further the purposes of the California State Lottery Act of 1984, as required by that initiative measure for any legislative changes to the lottery law.