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:

• Maryland (2012) Legislation: HB 786.  Amended commercial and lottery law to allow credit unions and depository institutions to offer savings promotions raffles. In Partnership with Maryland CASH Campaign.
• 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.
• Nebraska (2011) Lesiglation: LB 524.  Amended gambling law to allow credit unions to offer savings promotion raffles.  In partnership with Financial Hope Collaborative and Nebraska Credit Union League.
• 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
• North Carolina (2011) Legislation: SB 513.  Amended credit union laws to allow savings promotion raffles.  In Partnership with the North Carolina Credit Union League.
• Maine (2010) Legislation: SP 0645.  Amended gambling and banking law to allow credit unions to offer savings promotions raffles.
• Prize Linked Savings Brief