Bill
Bill > A397
NJ A397
NJ A397Provides that amounts remaining in inactive Internet gaming accounts will be abandoned property after three years under unclaimed property law.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 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." Previously, these funds were divided equally between the casino licensee and the casino control fund. Under the new provisions, the casino licensee must attempt to contact the account holder before closing the dormant account and transferring the funds to the state's unclaimed property program.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Introduced, Referred to Assembly Tourism, Gaming and the Arts Committee (on 01/09/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A397 |
| BillText | https://pub.njleg.gov/Bills/2024/A0500/397_I1.HTM |
Loading...