Senate Bill S3373

2011-2012 Legislative Session

Provides for unclaimed and abandoned lottery prize money to be transferred to the state comptroller for deposit into the "Love Your Library Fund"

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Racing, Gaming And Wagering 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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2011-S3373 (ACTIVE) - Details

Current Committee:
Senate Racing, Gaming And Wagering
Law Section:
Tax Law
Laws Affected:
Amd §1614, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: S4730
2013-2014: S3117

2011-S3373 (ACTIVE) - Summary

Provides for unclaimed and abandoned lottery prize money to be transferred to the state comptroller for deposit into the "Love Your Library Fund" and distributed to public library systems and libraries in support of the statewide summer reading program.

2011-S3373 (ACTIVE) - Sponsor Memo

2011-S3373 (ACTIVE) - Bill Text download pdf

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

                                  3373

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 17, 2011
                               ___________

Introduced  by  Sen.  PARKER -- 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 permitting the transfer of
  unclaimed and abandoned lottery prize money to the "Love Your  Library
  Fund" to aid summer reading programs

  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 changes]
TRANSFERRED  TO  THE  STATE  COMPTROLLER FOR DEPOSIT INTO THE "LOVE YOUR
LIBRARY FUND" AND DISTRIBUTED TO PUBLIC LIBRARY SYSTEMS AND LIBRARIES IN
SUPPORT OF THE STATEWIDE SUMMER READING PROGRAM ESTABLISHED PURSUANT  TO
SECTION  NINETY-NINE-L  OF  THE STATE FINANCE LAW AND SUBDIVISION TEN OF
SECTION TWO HUNDRED SEVENTY-THREE OF THE EDUCATION LAW.
  S 2. This act shall take effect immediately.

              

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