Bill Text: NY S01675 | 2009-2010 | General Assembly | Introduced

New York Senate Bill 1675 (Prior Session Legislation)

Introduced

Bill Title: Provides that unclaimed prize money for the prize on a winning ticket shall be retained by the division of the lottery for payment to the person entitled thereto for not less than six months after the drawing or after the close of the game in which the prize was won; provides that if no claim is made within such time period an amount equivalent to the prize amount shall be used to provide additional moneys to the state lottery fund for the purpose of providing aid to pupils with special educational needs.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-01-06 - REFERRED TO RACING, GAMING AND WAGERING [S01675 Detail]

Download: New_York-2009-S01675-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1675
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                   February 4, 2009
                                      ___________
       Introduced  by Sen. FLANAGAN -- 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 unclaimed and abandoned
         prize money
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section 1614 of the tax law, as amended by chapter 166 of
    2  the laws of 1991 and subdivision a as amended by chapter 170 of the laws
    3  of 1994, is amended to read as follows:
    4    S 1614. Unclaimed and abandoned prize money. a. No prize  claim  shall
    5  be  valid  if  submitted  to  the division following the expiration of a
    6  one-year time period from the date of the drawing or from the  close  of
    7  the  game in which a prize was won, and the person otherwise entitled to
    8  such prize shall forfeit any claim or entitlement to such prize  moneys.
    9  [Unclaimed  prize money, plus interest earned thereon, shall be retained
   10  in the lottery prize account to be used for payment of special lotto  or
   11  supplemental  lotto  prizes offered pursuant to the plan or plans speci-
   12  fied in this article, or for promotional purposes  to  supplement  other
   13  games  on  an  occasional  basis  not to exceed sixteen weeks within any
   14  twelve month period pursuant to the plan  or  plans  specified  in  this
   15  article.
   16    In the event that the director proposes to change any plan for the use
   17  of  unclaimed  prize  funds  or in the event the director intends to use
   18  funds in a game other than the game  from  which  such  unclaimed  prize
   19  funds  were  derived, the director of the budget, the chairperson of the
   20  senate finance committee, and the chairperson of the assembly  ways  and
   21  means  committee  shall  be notified in writing separately detailing the
   22  proposed changes to any plan prior to the implementation of  the  chang-
   23  es.]
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06528-01-9
       S. 1675                             2
    1    b.  UNCLAIMED  PRIZE  MONEY FOR THE PRIZE ON A WINNING TICKET SHALL BE
    2  RETAINED BY THE DIVISION FOR PAYMENT TO THE PERSON ENTITLED THERETO  FOR
    3  NOT  LESS  THAN  SIX  MONTHS AFTER THE DRAWING OR AFTER THE CLOSE OF THE
    4  GAME IN WHICH THE PRIZE WAS WON. IF NO CLAIM IS MADE FOR THE PRIZE WITH-
    5  IN  SIX  MONTHS  FROM  THE  DATE OF THE DRAWING OR FROM THE CLOSE OF THE
    6  GAME, AN AMOUNT EQUIVALENT TO THE PRIZE AMOUNT SHALL BE USED TO  PROVIDE
    7  ADDITIONAL MONEYS TO THE STATE LOTTERY FUND FOR THE PURPOSE OF PROVIDING
    8  AID  TO  PUPILS  (WITH  SPECIAL  EDUCATIONAL NEEDS AND WITH HANDICAPPING
    9  CONDITIONS) AS SET FORTH IN ITEM (II) OF SUBDIVISION  THREE  OF  SECTION
   10  NINETY-TWO-C OF THE STATE FINANCE LAW.
   11    C.  IN THE EVENT THAT A VALID PRIZE CLAIM IS SUBMITTED TO THE DIVISION
   12  MORE THAN SIX MONTHS BUT LESS THAN ONE YEAR FROM THE DATE OF THE DRAWING
   13  OR FROM THE CLOSE OF THE GAME IN WHICH THE PRIZE WAS WON,  THE  DIVISION
   14  SHALL  PAY SUCH CLAIM NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION B OF
   15  THIS SECTION. IF, AT THE TIME SUCH CLAIM IS PAID, AN  AMOUNT  EQUIVALENT
   16  TO  THE  PRIZE  AMOUNT HAS ALREADY BEEN TRANSFERRED TO THE STATE LOTTERY
   17  FUND IN ACCORDANCE WITH SUBDIVISION B OF THIS SECTION, THEN  SUCH  CLAIM
   18  SHALL BE PAID FROM SUCH FUNDS AS ARE THEN AVAILABLE IN THE LOTTERY PRIZE
   19  ACCOUNT AND A LIKE AMOUNT SHALL BE DEDUCTED FROM ANY SUBSEQUENT TRANSFER
   20  TO THE STATE LOTTERY FUND PURSUANT TO THIS SECTION.
   21    D. The division may determine that a prize has been abandoned whenever
   22  more  than  eighteen months have elapsed since a prize payment check was
   23  mailed to the last known address of the claimant and either  such  check
   24  has  been  returned  undelivered by the United States postal service and
   25  the claimant cannot be located or such check has not been returned unde-
   26  livered and has not been presented for payment. Any prize so  determined
   27  to  have  been abandoned shall be paid to the state comptroller pursuant
   28  to section thirteen hundred fifteen of the abandoned property law.
   29    S 2. This act shall take effect immediately.