HOUSE FILE 155

BY  HELLAND

A BILL FOR

An Act requiring the Iowa lottery authority to have certain lottery payout percentage information printed on all lottery tickets.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

   Section 1.  Section 99G.31, Code 2011, is amended by adding the following new subsection:
   NEW SUBSECTION.  3.  The authority shall ensure that the actual aggregate payout percentage for all lottery games be clearly printed on each lottery ticket. For the purpose of this calculation, the actual aggregate payout percentage shall be the revenue reported from all lottery games during the three calendar months preceding printing of the lottery ticket divided by net sales reported during the preceding three calendar months subtracted from one hundred percent.
EXPLANATION
   This bill requires the Iowa lottery authority to ensure that the payout percentage for the past three months of its lottery games be printed on each lottery ticket.
   This rate shall be calculated by dividing lottery game revenue for the past three months by net sales for the past three months, and then subtracting that number from 100 percent.