A bill to establish the National Lottery Commission to operate a national lottery for the purpose of creating a surplus revenue fund to be used to reduce the Federal debt.
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.
Introduced in House
Introduced in House
Referred to House Committee on The Judiciary.
Referred to House Committee on Post Office and Civil Service.
Referred to House Committee on Ways and Means.
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