Bill Text: NY S02711 | 2019-2020 | General Assembly | Introduced

New York Senate Bill 2711 (Prior Session Legislation)

Introduced

Bill Title: Requires unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO RACING, GAMING AND WAGERING [S02711 Detail]

Download: New_York-2019-S02711-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          2711
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 29, 2019
                                       ___________
        Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Racing, Gaming and  Wager-
          ing
        AN  ACT to amend the tax law, in relation to requiring unclaimed lottery
          prizes to be paid into the state treasury
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision a of section 1614 of the tax law, as amended by
     2  chapter 170 of the laws of 1994, is amended to read as follows:
     3    a.  No prize claim shall be valid if submitted to the division follow-
     4  ing the expiration of a one-year time period from the date of the  draw-
     5  ing  or  from  the  close  of the game in which a prize was won, and the
     6  person otherwise entitled to such prize shall forfeit any claim or enti-
     7  tlement to such prize  moneys.  Unclaimed  prize  money,  plus  interest
     8  earned  thereon,  shall  be [retained in the lottery prize account to be
     9  used for payment of special lotto or supplemental lotto  prizes  offered
    10  pursuant  to  the plan or plans specified in this article, or for promo-
    11  tional purposes to supplement other games on an occasional basis not  to
    12  exceed sixteen weeks within any twelve month period pursuant to the plan
    13  or plans specified in this article.
    14    In the event that the director proposes to change any plan for the use
    15  of  unclaimed  prize  funds  or in the event the director intends to use
    16  funds in a game other than the game  from  which  such  unclaimed  prize
    17  funds  were  derived, the director of the budget, the chairperson of the
    18  senate finance committee, and the chairperson of the assembly  ways  and
    19  means  committee  shall  be notified in writing separately detailing the
    20  proposed changes to any plan prior to the implementation of the changes]
    21  paid into the state treasury, to the credit of the  state  lottery  fund
    22  created by section ninety-two-c of the state finance law.
    23    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04191-01-9