IL HB5230

Changes the State Lottery Fund to include prizes of "$600 or less" (instead of "less than $600") that have been validly paid at the agent level.

Removes the $25,000 cap on prizes the Department of Lottery may pay from its separate account, allowing the Department to pay any validated prize amount from that account.

Removes provisions requiring Department moneys to be deposited into the Public Treasurers' Investment Pool or used to pay deferred prize winners.

Transfers contracting authority from the State Treasurer to the Department of Lottery for hiring banks, trust companies, and investment firms to perform financial functions related to lottery operations.

Removes the requirement for the Director to prepare and send vouchers to the State Comptroller for payments to deferred lottery prize winners from the Deferred Lottery Prize Winners Trust Fund.