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 lottery operations, which now allow for the possibility of holders of winning tickets to remain anonymous indefinitely. Additionally, the bill modifies the apportionment of lottery proceeds, reducing the required dedication to the investment account of Common Pension Fund L from 30% to 27% starting in State Fiscal Year 2026, contingent upon certain sales and revenue conditions. If sales and revenues fall below the base fiscal year figures, the dedication will revert to 30%.

Furthermore, the bill mandates that the commission conduct ongoing studies and audits of the lottery and its operations to prevent abuses and ensure compliance with the law. It also allows for immediate adoption of necessary regulations related to the Lottery Enterprise Contribution Act, which will be effective for a limited time before undergoing the standard amendment process. 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