WSR 98-08-063
PERMANENT RULES
LOTTERY COMMISSION
[Filed March 30, 1998, 3:28 p.m.]
Date of Adoption: March 27, 1998
Purpose: Amends WAC 315-34-055 to extend the payment period for Lotto jackpot winners
Citation of Existing Rules Affected by this Order: Amending WAC 315-34-055
Statutory Authority for Adoption: RCW 67.70.040
Adopted under notice filed as WSR 98-05-070 on February 17, 1998
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, amended 0, repealed 0; Federal Rules or Standards: New 0, amended 0, repealed 0; or Recently Enacted State Statutes: New 0, amended 0, repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, amended 0, repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, amended 1, repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, amended 0, repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, amended 0, repealed 0; Pilot Rule Making: New 0, amended 0, repealed 0; or Other Alternative Rule Making: New 0, amended 0, repealed 0.
Effective Date of Rule: Thirty-one days after filing.
March 30, 1998
Mary Jane Ferguson
Rules Coordinator
OTS-2040.1
AMENDATORY SECTION (Amending WSR 97-24-076, filed 12/2/97, effective 1/2/98)
WAC 315-34-055 Lotto prize claim and payment methods. The following sets forth requirements for claims and payment of Lotto prizes:
(1) Claims for prize payment shall be made in accordance with WAC 315-30-030(6).
(2) Prize payments shall be made as follows:
(a) Annuity: A player who elects their prize to be paid annually shall be paid as follows:
(i) If the player's share of the announced jackpot prize is
$500,000 or more, the player shall be paid in ((twenty)) twenty-five annual installment payments.
(ii) If the player's share of the announced jackpot prize is less than $500,000, the director shall have the discretion of paying the winner as follows:
(A) The present cash value of the jackpot prize share based
on the cost to purchase a ((twenty-year)) twenty-five-year
annuity: Provided, That the present cash value is equal to or
greater than fifty percent of their share of the announced
jackpot;
(B) If the present cash value of the player's share of the announced jackpot is less than fifty percent of their share of the announced jackpot, then the player shall receive a one-time single cash payment of fifty percent of their share of the announced jackpot; or
(C) The player shall be paid in ((twenty)) twenty-five
annual installment payments.
(b) Cash option: A player who elects the cash option shall be paid as follows:
(i) The player shall receive a one-time single cash payment of fifty percent of their share of the announced jackpot; or
(ii) If the director exercises his or her discretion as set forth in (a)(ii)(A) or (B) of this subsection, a player who elects the cash option will receive the same amount as those who have chosen to receive an annuity.
[Statutory Authority: RCW 67.70.040. 97-24-076, § 315-34-055, filed 12/2/97, effective 1/2/98.]