National Lottery Act

[AI summary unavailable — showing source text] National Lottery Act - Directs the Secretary of the Treasury to establish and operate a national lottery. Requires the Secretary to report to Congress every six months, providing: (1) the total revenues and expenditures of the lottery; and (2) recommendations by the Secretary for any needed changes in this Act. Requires regulations concerning such lottery to be issued within one year after enactment of this Act by the Secretary and operation of such lottery to begin as soon as practicable. Directs the Secretary, upon a certain finding of financial responsibility and general fitness of character, to issue licenses to persons to sell national lottery tickets. Denies the issuance of such licenses to specified classes of people. Sets forth criminal penalties for: (1) the sale of lottery tickets at unauthorized prices; (2) the sale of such tickets to persons under the age of 18; (3) the sale of forged or counterfeit lottery tickets; and (4) fraud with respect to the national lottery. Establishes a National Lottery Trust Fund. Requires the Secretary to invest such portion of the Fund not required to meet current withdrawals. Provides that amounts in the Fund shall be available only for: …