DE HB31

Authorizes banks and credit unions operating in Delaware to conduct savings promotion raffles where customers can win designated prizes by depositing a minimum amount in a savings account.

Requires participating financial institutions to ensure equal chances of winning for all entries, fully disclose raffle terms and conditions, offer competitive interest rates comparable to non-raffle savings accounts, and maintain audit records.

Exempts savings promotion raffles from Delaware's lottery regulations under Chapter 48 of Title 29.

Clarifies that savings promotion raffles do not constitute gambling or prohibited lotteries, and that the required minimum deposit is not considered "consideration" for gambling purposes.

Aligns Delaware law with federal legislation passed in 2014 allowing federally chartered banks and credit unions to offer prize-linked savings accounts in states that do not prohibit them.