85R11497 GCB-F
By: Oliveira H.B. No. 2828
A BILL TO BE ENTITLED
AN ACT
relating to the regulation of certain sweepstakes in this state.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 622, Business & Commerce
Code, is amended by adding Section 622.062 to read as follows:
Sec. 622.062. CERTAIN SWEEPSTAKES. (a) This chapter does
not apply to a sweepstakes that:
(1) has awarded one or more cash prizes valued at not
less than $1 million dollars based on chance or the random selection
of entries in each of the preceding five calendar years;
(2) does not require a purchase or payment for entry in
the sweepstakes or to win a prize;
(3) is operated by a person under and in voluntary
compliance with a consent judgment to which this state is a party or
under a similar agreement between the person and this state that
governs the marketing practices of the sweepstakes; and
(4) is operated by a person who has not been subject to
an enforcement proceeding under a consent judgment or any other
applicable state law regarding advertising or marketing practices
during the preceding five years.
(b) For purposes of this section, the value of a cash prize
awarded is the greatest of the prize's:
(1) face value;
(2) fair market value; or
(3) present financial value.
SECTION 2. This Act takes effect September 1, 2017.