HR 5273 · 99th Congress · Economics and Public Finance

National Lottery Act of 1986

Introduced 1986-07-29· Sponsored by Rep. Carney, William [R-NY-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1986-07-29)

Plain Language Summary

[AI summary unavailable — showing source text] National Lottery Act of 1986 - Establishes the National Lottery Commission to operate a monthly national lottery. Establishes the National Lottery Trust Fund from which at least 50 percent of expenditures shall be used to reduce the Federal debt. Requires that the remaining funds be used for lottery prizes, administrative expenses, State sales taxes, and programs under the jurisdiction of the Secretary of Health and Human Services. Establishes criminal provisions regarding the national lottery. Authorizes the mailing of national lottery tickets. Provides that this Act preempts State law. Exempts national lottery prizes from Federal income tax.…

Summarized by Claude AI · Non-partisan · For informational purposes only