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Bill > S3079
NJ S3079
NJ S3079Provides amounts remaining in inactive Internet gaming accounts will be abandoned property after three years under unclaimed property law.
summary
Introduced
10/29/2020
10/29/2020
In Committee
10/29/2020
10/29/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill provides that amounts remaining in Internet gaming accounts that are inactive or dormant for three years will be unclaimed property under the "Uniform Unclaimed Property Act," N.J.S.A.46:30B-1 et seq. Under existing law, amounts in these inactive or dormant accounts for a period determined by the Division of Gaming Enforcement are paid 50% to the casino licensee and 50% to the casino control fund.
AI Summary
This bill provides that amounts remaining in inactive or dormant Internet gaming accounts for a period of three years will be considered unclaimed property under the "Uniform Unclaimed Property Act" in New Jersey. Under the existing law, these inactive or dormant account balances were previously split 50% to the casino licensee and 50% to the casino control fund. This bill changes the treatment of these account balances, making them subject to the state's unclaimed property laws after three years of inactivity.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 10/29/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/S3500/3079_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S3500/3079_I1.PDF |
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