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AB1346 Summary:

BILL NOA01346
 
SAME ASSAME AS S02711
 
SPONSORSantabarbara
 
COSPNSR
 
MLTSPNSR
 
Amd 1614, Tax L
 
Requires unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund.
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AB1346 Actions:

BILL NOA01346
 
01/15/2019referred to ways and means
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AB1346 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A1346
 
SPONSOR: Santabarbara
  TITLE OF BILL: An act to amend the tax law, in relation to requiring unclaimed lottery prizes to be paid into the state treasury   SUMMARY OF PROVISIONS: Section one amends subdivision (a) of section 1614 of the tax law to require unclaimed lottery winnings to be paid into the state treasury fund for education after the one year waiting period.Section two sets the effective date.   JUSTIFICATION: The voters of New York amended the State Constitution in 1967 to allow for a state lottery to support public education within the state. Howev- er, state aid to education funding has been severely restricted over the past few years. Current law allows a winner up to one year to claim a lottery prize. After a year, money is distributed back into the prize pool.With lottery money intended to be spent on education, allowing unclaimed funds to go towards education would greatly help our schools. For 2016- 2017, an estimated $74 million in lotto prizes went unclaimed, which could substantially help fund New York's schools.{1} Positive impact on educational spending.   PRIOR LEGISLATIVE HISTORY: 2017-18: A10446 - referred to ways and means   EFFECTIVE DATE: This act shall take effect immediately.
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AB1346 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1346
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 15, 2019
                                       ___________
 
        Introduced  by  M.  of  A. SANTABARBARA -- read once and referred to the
          Committee on Ways and Means
 
        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:

     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    In the event that the director proposes to change any plan for the use
    15  of unclaimed prize funds or in the event the  director  intends  to  use
    16  funds  in  a  game  other  than the game from which such unclaimed prize
    17  funds were derived, the director of the budget, the chairperson  of  the
    18  senate  finance  committee, and the chairperson of the assembly ways and
    19  means committee shall be notified in writing  separately  detailing  the
    20  proposed changes to any plan prior to the implementation of the changes]
    21  paid  into  the  state treasury, to the credit of the state lottery fund
    22  created by section ninety-two-c of the state finance law.
    23    § 2. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04191-01-9
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