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OK SB1279
Bill
Status
2/1/2010
Primary Sponsor
Richard Lerblance
Click for details
AI Summary
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Amends the Oklahoma Education Lottery Act by removing the requirement that net proceeds equal at least 35% of gross proceeds (or 30% during the first two fiscal years for debt repayment).
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Maintains the requirement that at least 45% of gross proceeds be made available as prize money.
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Continues directing all net proceeds to the Oklahoma Education Lottery Trust Fund for education purposes, including K-12 schools, higher education, and career and technology education.
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Takes effect July 1, 2010, with an emergency clause allowing immediate enactment upon passage and approval.
Legislative Description
Amusements and sports; relating to the Oklahoma Education Lottery Act; eliminating net proceeds minimum requirement. Effective date. Emergency.
Amusements and Sports
Last Action
Second Reading referred to Appropriations
2/2/2010