Senate Bill S4959

2013-2014 Legislative Session

Relates to certain unclaimed and abandoned prize money and establishes the kindergarten reserve fund

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Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-S4959 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §1614, Tax L; add §99-v, St Fin L
Versions Introduced in 2015-2016 Legislative Session:
S863

2013-S4959 (ACTIVE) - Summary

Relates to certain unclaimed and abandoned prize money and establishes the kindergarten reserve fund.

2013-S4959 (ACTIVE) - Sponsor Memo

2013-S4959 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4959

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               May 1, 2013
                               ___________

Introduced  by Sen. CARLUCCI -- 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 certain unclaimed and  aban-
  doned  prize money; and to amend the state finance law, in relation to
  establishing the kindergarten reserve fund

  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  chang-
es.] TRANSFERRED TO THE STATE COMPTROLLER FOR DEPOSIT IN THE "KINDERGAR-
TEN  RESERVE  FUND" ESTABLISHED PURSUANT TO SECTION NINETY-NINE-V OF THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06469-02-3

              

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