TITLE: Relating to the regulation of certain sweepstakes in this state.

SUMMARY: Relating to the regulation of certain sweepstakes in this state.

FULL TEXT:
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.