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.
Terms Used In N.Y. Tax Law 1618
- Director: means the director of the division of the lottery, except for purposes of paragraph four of subsection c of section one thousand six hundred thirteen and sections one thousand six hundred fourteen and one thousand six hundred fifteen of this chapter the term "director" shall mean the "commission". See N.Y. Tax Law 1602
- division: means the "division of gaming" as created pursuant to section one hundred two of the racing, pari-mutuel wagering and breeding law. See N.Y. Tax Law 1602
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.