Legislative Success

As a result of the success in Michigan, states throughout the country are interested in amending their laws to allow financial institutions to offer raffle-based PLS products. Below are the states that have passed explicit Savings Promotion Raffle laws:

  • Indiana (2015) Legislation: HB 1287. Amended laws to additionally allow banks to offer savings promotions raffles.
  • Illinois (2015) Legislation: HB2477. Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Oregon (2015) Legislation: HB 2893. Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Virginia (2015) Legislation: SB 737. Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Minnesota (2015) Legislation: HF 1127. Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Arkansas (2015) Legislation: HB1642. Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Nebraska (2015) Legislation: LB 160. Amended laws to additionally allow banks to offer savings promotions raffles.
  • Maryland (2015) Legislation: HB 0558.  Amended laws to allow all financial institutions to offer savings promotions raffles.
  • Michigan (2015) Legislation: HB 5412 and HB 5413. Amended laws to allow banks and other financial institutions to offer savings promotion raffles.
  • Indiana (2014) Legislation: HEA1235Amended banking laws to allow credit unions to offer savings promotion raffles.
  • New York (2014) Legislation: A.9037A and S.6805BAmended banking laws to allow credit unions to offer savings promotion raffles. In partnership with National Federation of Community Development Credit Unions and the Credit Union Association of New York.
  • Connecticut (2013) Legislation: HB 5564.  Amended banking laws to allow credit unions and community banks to offer savings promotion raffles
  • Maryland (2012) Legislation: HB 786. Amended gambling and banking law to allow credit unions to offer savings promotions raffles.
  • North Carolina (2011) Legislation: SB 513.  Amended credit union laws to allow savings promotion raffles. In Partnership with the North Carolina Credit Union League.
  • Nebraska (2011) Legislation: LB 524.  Amended gambling law to allow credit unions to offer savings promotion raffles.
  • Washington (2011) Legislation: SB 5232. Amended gambling and banking law to allow financial institutions to offer chance based products.  In partnership with the Washington Asset Building Coalition and the Northwest Credit Union Association
  • Maine (2010) Legislation: SP 0645. Amended gambling and banking law to allow credit unions to offer savings promotions raffles.
  • Rhode Island (2010) Legislation: S 2399. Amended credit union and lottery laws to allow credit unions to offer savings promotion raffles. In partnership with Credit Union Association of Rhode Island.
  • Prize Linked Savings Brief