Sponsored by:
Assemblyman ROBERT AUTH
District 39 (Bergen and Passaic)
Assemblyman JOE DANIELSEN
District 17 (Middlesex and Somerset)
Assemblyman JOHN F. MCKEON
District 27 (Essex and Morris)
Co-Sponsored by:
Assemblyman S.Kean, Assemblywoman Handlin, Assemblymen Holley, Thomson, Space, Mejia and DiMaio
SYNOPSIS
Provides amounts remaining in inactive Internet gaming accounts will be abandoned property after three years under unclaimed property law.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning amounts remaining in inactive Internet gaming accounts and amending P.L.2013, c.27.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 22 of P.L.2013, c.27 (C.5:12-95.24) is amended to read as follows:
22. All amounts remaining in Internet gaming accounts inactive or dormant for [such] a period of three years, and under such conditions as established by regulation by the division, shall be [paid 50% to the casino licensee and 50% to the casino control fund] unclaimed property under the “Uniform Unclaimed Property Act,” P.L.1989, c.58 (C.46:30B-1 et seq.). Before closing a wagering account pursuant to this section, the casino licensee shall attempt to contact the account holder by mail, phone and computer.
(cf: P.L.2013, c.27, s.22)
2. This act shall take effect immediately.
STATEMENT
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.