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CT SB00290
Bill
Status
Passed
5/16/2014
Primary Sponsor
Public Safety and Security Committee
Click for details
AI Summary
- Expands the definition of "tuition raffle" to include prizes for payment of student loans in addition to tuition at educational institutions, effective October 1, 2014
- Permits organizations qualified to conduct bazaars or raffles to conduct one special tuition raffle per calendar year, with prizes funded over a period not to exceed four years
- Allows tuition or student loan prizes to be paid to the actual raffle winner, a relative of the winner, or a student chosen by the winner, with the sponsoring organization able to divide prizes among multiple student recipients
- Requires all raffle proceeds to be deposited in a special dedicated bank account approved by the Commissioner of Consumer Protection, with quarterly financial reports required during January, April, July, and October
- Authorizes the Commissioner of Consumer Protection to require sponsoring organizations to post a performance bond sufficient to fully fund the special tuition raffle prize and to conduct audits of raffle accounts
Legislative Description
An Act Concerning Tuition Raffles.
Last Action
Signed by the Governor
5/16/2014
Committee Referrals
General Law4/9/2014
Public Safety and Security2/26/2014
Full Bill Text
No bill text available