Bill Text: NY S04682 | 2011-2012 | General Assembly | Introduced

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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) 2012-01-04 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S04682 Detail]

Download: New_York-2011-S04682-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4682
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                    April 14, 2011
                                      ___________
       Introduced  by Sen. FLANAGAN -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       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.
                                                                  LBD10814-01-1
       S. 4682                             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.