(f) Lotto Texas
Prizes. The following prizes are intended for the Lotto Texas base game drawing
only.
(1) Jackpot prize (first prize).
(A) A person who holds a valid ticket for a
play matching (in any order) the six numbers drawn in a drawing is entitled to
a share of the jackpot prize (first prize) for the drawing.
(B) The jackpot prize for a drawing is the
greater of:
(i) 40.47 percent of the proceeds
from Lotto Texas ticket sales for all drawings in the roll cycle and any
earnings on an investment of all or part of the proceeds from ticket sales,
paid in 30 annual installments; or
(ii) The amount advertised in accordance with
subsection (e) of this section as the estimated jackpot for the drawing, paid
in 30 annual installments.
(C) Except as provided by subparagraph (F) of
this paragraph, a person who is entitled to a share of a jackpot prize and who
opted for annualized installment payments, shall receive payment in 30 annual
installments.
(D) The first
installment payment shall be made upon completion of commission validation
procedures. The subsequent 29 installment payments shall be made annually on
the 15th day of the month in which the applicable drawing occurred.
(E) The second through 29th installment
payments shall be in equal amounts. The first installment payment may be equal
to or higher than the subsequent installment payments.
(F) If a person would otherwise receive total
installment payments of $2 million or less, the commission shall pay the
person, upon completion of all validation procedures, a single payment in the
amount of the cash value of those total installment payments. The cash value is
the cost on the first business day after the applicable drawing of funding
those installment payments.
(G) A
person who is entitled to a share of the jackpot and who selected the cash
value option, or for whom the cash value option was automatically selected
shall receive the greater of the following two amounts:
(i) a share of 40.47 percent of the proceeds
from Lotto Texas ticket sales; or
(ii) the cost on the day after the drawing of
funding a share of installment payments under subparagraph (B)(ii) of this
paragraph.
(H) A payment
under subparagraph (G) of this paragraph shall be made upon completion of
commission validation procedures.
(I) Any investment necessary to fund a
jackpot prize shall be made on the first business day after a drawing for which
one or more tickets were sold that match the six numbers drawn in the
drawing.
(J) A claim for a jackpot
prize must be presented at the Austin claim center.
(K) If 40.47 percent of the proceeds from
Lotto Texas ticket sales is not sufficient to pay a jackpot prize, the
commission shall use funds from other authorized sources, including the State
Lottery Account as identified in Government Code, §
466.355.
(2) Second prize.
(A) A person who holds a valid ticket for a
play matching (in any order) five of the six numbers drawn in a drawing is
entitled to a share of the second prize for that drawing.
(B) The second prize consists of 2.23 percent
of the proceeds from Lotto Texas ticket sales for the drawing and any amounts
carried forward under subparagraph (D) of this paragraph.
(C) A payment made to a person for a share of
the second prize for a drawing shall be rounded to the closest whole dollar
amount. An amount of exactly fifty cents shall be rounded up to the nearest
whole dollar amount.
(D) Any part
of the second prize for a drawing that is not paid in prizes shall be carried
forward and shall become part of the second prize for the next
drawing.
(3) Third prize.
(A) A person who holds a valid ticket for a
play matching (in any order) four of the six numbers drawn in a drawing is
entitled to a share of the third prize for that drawing.
(B) The third prize consists of 3.28 percent
of the proceeds from Lotto Texas ticket sales for the drawing and any amounts
carried forward under subparagraphs (C) and (D) of this paragraph.
(C) A payment made to a person for a share of
the third prize for a drawing shall be rounded to the closest whole dollar
amount. An amount of exactly fifty cents shall be rounded up to the nearest
whole dollar amount.
(D) Any part
of the third prize for a drawing that is not paid in prizes shall be carried
forward and shall become part of the third prize for the next
drawing.
(4) Fourth
prize.
(A) A person who holds a valid ticket
for a play matching (in any order) three of the six numbers drawn in a drawing
is entitled to a guaranteed prize of $3.
(B) If 4.02 percent of the proceeds from
Lotto Texas ticket sales is not sufficient to pay all fourth prizes for a draw,
the commission shall use funds from other authorized sources, including the
State Lottery Account as identified in Government Code, §
466.355.
(C) To the extent that the total amount of
fourth prizes for a drawing is less than 4.02 percent of the proceeds from
ticket sales for the drawing, the difference shall be carried forward to fund
future fourth prize payments.
(5) A person may win only one prize per play
per drawing. A player who holds a valid ticket for a winning play is entitled
to the highest prize for that play.
(6) A share of a prize is determined by
dividing the prize by the number of winning plays for that prize.
(7) Jackpot payment amounts are calculated on
the first business day after the applicable drawing. A claimant is not entitled
to interest or other earnings on those amounts, regardless of when the claim is
actually presented and regardless of the dates on which payments are
made.