House. Special Investigative Lottery Fund Task Force
biographical statement
On June 13, 1984 the House of Representatives adopted House Resolution 238, which provided for the formation of a Special Investigative Lottery Fund Task Force. The Pennsylvania Lottery created a special division within the Department of Revenue with the authority to operate games of chance. Revenue from the sale of Lottery tickets was deposited into a State Lottery Fund, from which the expenses of Lottery operations were paid. The remaining funds were transferred to finance programs for elderly Pennsylvania residents. However, the Lottery winners who chose the annuity option received their prize money from fixed annuity policies from private insurance companies, which were purchased by the Division of the State Lottery. These policies named the prizewinners are payees. This practice had come into question and the Task Force was given the responsibility of investigating the fiscal condition of the Lottery Fund and its investment practices and policies. Report presented November 30, 1984.