Bill Text: NY S00055 | 2013-2014 | General Assembly | Introduced

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Bill Title: Relates to the payment of winning lottery tickets.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO RACING, GAMING AND WAGERING [S00055 Detail]

Download: New_York-2013-S00055-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          55
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  Sen. PERALTA -- 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 payment of winning lottery
         tickets
         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    NOTWITHSTANDING  ANY  INCONSISTENT PROVISION OF ANY OTHER LAW, RULE OR
   15  REGULATION, ALL WINNING TICKETS VALUED AT SIX HUNDRED  DOLLARS  OR  LESS
   16  PRESENTED  FOR  PAYMENT  WITHIN THE EXPIRATION OF A ONE-YEAR TIME PERIOD
   17  FROM THE DATE OF THE DRAWING OR FROM THE CLOSE OF THE GAME  IN  WHICH  A
   18  PRIZE  WAS  WON  SHALL BE PAID BY THE LOTTERY SALES AGENT PRESENTED WITH
   19  SUCH TICKET.
   20    In the event that the director proposes to change any plan for the use
   21  of unclaimed prize funds or in the event the  director  intends  to  use
   22  funds  in  a  game  other  than the game from which such unclaimed prize
   23  funds were derived, the director of the budget, the chairperson  of  the
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01092-01-3
       S. 55                               2
    1  senate  finance  committee, and the chairperson of the assembly ways and
    2  means committee shall be notified in writing  separately  detailing  the
    3  proposed changes to any plan prior to the implementation of the changes.
    4    S  2.  This  act shall take effect on the thirtieth day after it shall
    5  have become a law.