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NY A08921
Bill
Status
Introduced
1/4/2012
Primary Sponsor
Sandra Galef
Click for details
AI Summary
- Reduces the percentage of lottery ticket sales retained by the state for new lottery games introduced after the effective date from 60% to 40%
- Reduces the percentage of lottery ticket sales retained by the state for the "Instant Cash" game from 65% to 40%, except for up to five new instant games which retain 75%
- Reduces the percentage of lottery ticket sales retained by the state for joint, multi-jurisdiction, and out-of-state lottery games from 55% to 40%
- Increases the percentage of lottery revenues that must be paid into the state lottery fund monthly from various lottery games, with rates rising to 40-45% depending on the game type
- Takes effect on January 1 following enactment
Legislative Description
Reformulates provisions in the tax law relating to the disposition of lottery revenues to require that a higher percentage of all revenues collected in each of the various lottery games is deposited into the state lottery fund provided in section 92-c of the state finance law.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means1/4/2012
Full Bill Text
No bill text available