New York A02216 requires unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund.

New York A02216 amends the tax law to require unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund. The bill specifies that no prize claim is valid if submitted after one year from the date of the drawing or the close of the game. It also limits the use of lottery prize funds to $60 million per fiscal year, with any excess paid into the state treasury. Unclaimed prize money, plus interest, can be used for special lotto or supplemental lotto prizes or promotional purposes, not exceeding 16 weeks within any 12-month period.

New York A02216 requires unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund.

New York A02216 amends the tax law to require unclaimed lottery prizes to be paid into the state treasury, to the credit of the state lottery fund. The bill specifies that no prize claim is valid if submitted after one year from the date of the drawing or the close of the game. It also limits the use of lottery prize funds to $60 million per fiscal year, with any excess paid into the state treasury. Unclaimed prize money, plus interest, can be used for special lotto or supplemental lotto prizes or promotional purposes, not exceeding 16 weeks within any 12-month period.