The bill amends the McCauley-Traxler-Law-Bowman-McNeely lottery act, specifically section 25, to clarify the options available to prizewinners in the Michigan lotto game. It mandates that prizewinners must be given the choice to receive their winnings either as a lump sum or in installments at the point of purchase. Additionally, the bill specifies that the right to a lottery prize is not assignable except under certain conditions, and it outlines the process for voluntary assignments of future prize payments, including the requirement for a court order and the necessary disclosures to be made by the assignor.

Furthermore, the bill introduces provisions to protect the personal information of prizewinners, stating that such information cannot be disclosed without the winner's written consent. It also updates the language regarding the responsibilities of the commissioner and the bureau in relation to prize payments and the handling of assignments. Notably, it includes a new requirement for the commissioner to file any federal rulings that may affect the tax treatment of prize assignments with the secretary of state and the state court administrator, thereby ensuring compliance with federal regulations.

Statutes affected:
House Introduced Bill: 432.25
As Passed by the House: 432.25