The bill amends Section 7 of P.L.1970, c.13 (C.5:9-7) to update the powers and duties of the commission overseeing the State lottery. Key changes include the establishment of rules and regulations for the lottery's operation, with a focus on maximizing net proceeds for state institutions and education. Notably, the bill introduces a provision that allows for a decrease in the required dedication of lottery proceeds to the investment account for retirement systems from 30% to 27% starting in State Fiscal Year 2026, contingent upon certain sales performance metrics. If sales do not meet specified thresholds, the dedication will revert to 30%.

Additionally, the bill allows lottery winners to choose to remain anonymous indefinitely, ensuring their identities are not publicly disclosed. It also streamlines the regulatory process by stating that lottery game rules will not be classified as "administrative rules," thus expediting their implementation. The commission is tasked with ongoing oversight, including financial audits and reporting to the Governor and Legislature on lottery proceeds and expenditures. The act is set to take effect immediately upon approval.

Statutes affected:
Introduced: 5:9-7
Advance Law: 5:9-7
Pamphlet Law: 5:9-7