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Senate Bill S8094

2017-2018 Legislative Session

Relates to unclaimed lottery prizes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Racing, Gaming And Wagering Committee

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2017-S8094 (ACTIVE) - Details

See Assembly Version of this Bill:
A10446
Current Committee:
Senate Racing, Gaming And Wagering
Law Section:
Tax Law
Laws Affected:
Amd §1614, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S2711, A1346
2021-2022: A2656
2023-2024: A2827
2025-2026: A2216

2017-S8094 (ACTIVE) - Summary

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

2017-S8094 (ACTIVE) - Sponsor Memo

2017-S8094 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8094
 
                             I N  S E N A T E
 
                              March 28, 2018
                                ___________
 
 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:

   Section 1. Subdivision a of section 1614 of the tax law, as amended by
 chapter 170 of the laws of 1994, is amended to read as follows:
   a.  No prize claim shall be valid if submitted to the division follow-
 ing the expiration of a one-year time period from the date of the  draw-
 ing  or  from  the  close  of the game in which a prize was won, and the
 person otherwise entitled to such prize shall forfeit any claim or enti-
 tlement to such prize  moneys.  Unclaimed  prize  money,  plus  interest
 earned  thereon,  shall  be [retained in the lottery prize account to be
 used for payment of special lotto or supplemental lotto  prizes  offered
 pursuant  to  the plan or plans specified in this article, or for promo-
 tional purposes to supplement other games on an occasional basis not  to
 exceed sixteen weeks within any twelve month period pursuant to the plan
 or plans specified in this article.
   In the event that the director proposes to change any plan for the use
 of  unclaimed  prize  funds  or in the event the director intends to use
 funds in a game other than the game  from  which  such  unclaimed  prize
 funds  were  derived, the director of the budget, the chairperson of the
 senate finance committee, and the chairperson of the assembly  ways  and
 means  committee  shall  be notified in writing separately detailing the
 proposed changes to any plan prior to the implementation of the changes]
 PAID INTO THE STATE TREASURY, TO THE CREDIT OF THE  STATE  LOTTERY  FUND
 CREATED BY SECTION NINETY-TWO-C OF THE STATE FINANCE LAW.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11856-01-7

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