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New Law Gives Cash Option To
Past Lottery Winners
Springfield, IL (January 30, 2004): SB 689, signed into law by Governor Blagojevich this past summer, has gone into effect as of January 1, 2004. Many Illinois lottery winners have already taken advantage of this new law that gives them the right to trade their remaining payments for upfront cash.
Under the new and current law, past winners have the freedom to raise cash by pledging or selling their rights to receive future payments. In contrast to the State’s own cash option programs, the new law affords winners the option of selling all OR only a portion of their prize payments for upfront cash, keeping the remainder as payments to be received over time.
Read or Download the text of SB 689.
Read or Download an “Issue Brief” on SB 689.
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Learn more about the new law and how quickly you can receive upfront cash for your remaining payments by calling the Winner’s Choice Hotline. Call Toll Free at 800-337-6407.
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