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OK HB3421

Bill

Official Source

Status

Introduced

2/3/2014

Primary Sponsor

Mike Shelton

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

HB 3421 Summary

  • Amends 3A O.S. 2011, Section 713 relating to the Oklahoma Education Lottery and net lottery proceeds.

  • Eliminates the minimum requirement that net proceeds equal at least 35% of gross proceeds (or 30% for the first two fiscal years).

  • Maintains that at least 45% of gross proceeds must be made available as prize money, and all net proceeds are transferred to the Oklahoma Education Lottery Trust Fund.

  • Effective date: July 1, 2014, with emergency declaration for immediate effect.

Legislative Description

Oklahoma Education Lottery; eliminating net proceeds minimum requirement; emergency.

Education - Common

Last Action

Second Reading referred to Rules

2/4/2014

Committee Referrals

Rules2/4/2014

Full Bill Text

No bill text available