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Bill > A1405
NJ A1405
NJ A1405Provides that amounts remaining in inactive Internet gaming accounts will be abandoned property after three years under unclaimed property law.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 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." Under the existing law, these inactive or dormant account balances were split 50% to the casino licensee and 50% to the casino control fund. The bill changes this, requiring the funds to instead be treated as unclaimed property subject to the provisions of the Uniform Unclaimed Property Act.
Committee Categories
Business and Industry
Sponsors (9)
Bob Auth (R)*,
Joe Danielsen (D)*,
John McKeon (D)*,
Ralph Caputo (D),
John DiMaio (R),
Sean Kean (R),
Pedro Mejia (D),
Parker Space (R),
Edward Thomson (R),
Last Action
Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A1405 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1500/1405_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1500/1405_I1.PDF |
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