California State Lottery: prize money: immediate payment.

The California State Lottery Act of 1984 authorizes a California State Lottery and provides for its operation and administration by the California State Lottery Commission and the Director of the California State Lottery. The act establishes the State Lottery Fund as a continuously appropriated fund for carrying out the purposes of the act and requires the fund to receive all proceeds from the sales of lottery tickets or shares, the temporary line of credit for initial startup costs, and all other moneys credited to the lottery from any other source. Existing law authorizes the California State Lottery to draw funds from its continuous appropriation for the purpose of making immediate payment through its revolving fund to lottery prizewinners of $1,000 or less, provided that regulations to support the action are adopted by the commission. This bill would increase the amount that may be paid immediately to lottery winners under these provisions to $100,000.