DE HB226

Authorizes banks and credit unions operating in Delaware to conduct savings promotion raffles where account holders gain raffle entries by depositing a minimum amount into a savings account.

Establishes four requirements for conducting savings promotion raffles: ensuring equal chances of winning, fully disclosing terms and conditions, offering competitive interest rates comparable to non-raffle savings accounts, and maintaining audit records.

Exempts savings promotion raffles from lottery regulations under Chapter 48 of Title 29 and clarifies they do not constitute gambling under Title 11.

Specifies that depositing money into a savings account to gain a raffle entry does not constitute "consideration" for gambling purposes, making the programs explicitly legal in Delaware.

Aims to promote savings, particularly among low-income and first-time savers, following successful programs in Michigan, Nebraska, North Carolina, and Washington.