New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 1618
Special drawings
§ 1618. Special drawings. a. General. The division may hold special prize drawings each of which shall guarantee as a first prize to the winner or winners an amount of not less than fifty million dollars, including interest, such prize to be paid in a manner which the director shall determine.
b. Reports. The division shall produce and issue a report, in such format as the director may prescribe, no more than sixty days after a prize drawing is held pursuant to subdivision a of this section. Such report shall include at a minimum the following information pertaining to such drawing: (1) sales revenue and prize distributions to include amounts available for future special drawings, (2) administrative costs paid or otherwise payable or distributed to agents, vendors and contractors, (3) an analysis of the effect on sales of other game drawings held during the period of time that tickets for a special prize drawing were available to the public. A copy of such report will be provided to the director of the budget, the chairman of the senate finance committee and the chairman of the assembly ways and means committee.
Source: view the official text
In this article (25 sections)
- 1600 · Short title
- 1601 · Statement of purpose
- 1602 · Definitions
- 1603 · Division of the lottery
- 1604 · Powers and duties of the division
- 1604-A · Posting of signs to assist compulsive gamblers
- 1605 · Lottery sales agents and other licensees
- 1606 · Authorization of lottery sales agents
- 1607 · Suspension and revocation of licenses
- 1608 · Other statutes not applicable
- 1609 · Lottery tickets
- 1610 · Sales to certain persons prohibited
- 1611 · Delivery of funds; designation of banks
- 1612 · Disposition of revenues
- 1613 · Certification of prize winners; payment of prizes
- 1613-A · Crediting of lottery prizes against past-due support
- 1613-B · Crediting of lottery prizes against public assistance benefits
- 1613-C · Crediting of lottery prizes against liabilities for taxes…
- 1614 · Unclaimed and abandoned prize money
- 1615 · Fiscal year of lottery, reporting requirements and fiscal…
- 1616 · Continuation of licenses
- 1617 · Joint, multi-jurisdiction, and out-of-state lottery
- 1617-A · Video lottery gaming
- 1618 · Special drawings
- 1620 · Request for proposals required