Revision: Jan. 10, 2024, 10:11 a.m.
SB 473-FN - AS INTRODUCED
2024 SESSION
24-3068
11/05
SENATE BILL 473-FN
AN ACT governing unclaimed horse racing ticket and voucher money.
SPONSORS: Sen. Lang, Dist 2; Sen. Gannon, Dist 23; Sen. Carson, Dist 14; Sen. Pearl, Dist 17
COMMITTEE: Ways and Means
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ANALYSIS
This bill governs the process for and designation of unclaimed horse racing ticket and voucher money.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
24-3068
11/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT governing unclaimed horse racing ticket and voucher money.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Unclaimed Ticket Money. Amend RSA 284:31 to read as follows:
284:31 Unclaimed Ticket Money.
I. On or before January 31 of each year every person, association, or corporation conducting a race or race meet, whether live racing[,] or simulcast racing [, or historic horse racing] hereunder shall pay to the state treasurer all moneys collected during the previous year of pari-mutuel pool tickets and vouchers which have not been redeemed. The books or records of said person, association, or corporation, which clearly show the tickets entitled to reimbursement in any given race, live, simulcast, or historic, shall be forwarded to the lottery commission. Such moneys shall become a part of the special fund established in RSA 284:21-j. The state treasurer shall pay the amount due on any ticket or voucher to the holder thereof from funds not otherwise appropriated upon an order from the lottery commission. Pari-mutuel tickets and vouchers which remain unclaimed after 11 months shall not be paid. [Vouchers shall be remitted to the state treasurer on January 31 of the calendar year, 24 months after the year of the unclaimed voucher.] On or before July 1 of every year, horse racing gaming operators shall submit to the treasurer a check for any unclaimed money during the previous fiscal year, along with a gaming operator's written report for the previous fiscal year's unclaimed money, which shall itemize both the unclaimed tickets and vouchers and the unclaimed amounts therefrom. A copy of the report shall be forwarded to the lottery commission. For the first biennial year after the effective date of this section, the report shall cover both years of the previous biennium. The treasurer shall deposit the unclaimed ticket and voucher money in the governor's scholarship fund.
2 Effective Date. This act shall take effect 60 days after its passage.
24-3068
Revised 1/10/24
SB 473-FN- FISCAL NOTE
AS INTRODUCED
AN ACT governing unclaimed horse racing ticket and voucher money.
FISCAL IMPACT: [ X ] State [ ] County [ ] Local [ ] None
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Estimated State Impact - Increase / (Decrease) | |||||
| FY 2024 | FY 2025 | FY 2026 | FY 2027 | |
Revenue | $0 | Governor's Scholarship Fund - $200,000 Increase Per Year
Lottery Fund - ($400,000 Decrease Per Year) | |||
Revenue Fund(s) | Governor's Scholarship Fund Lottery Fund / Education Trust Fund - Lottery revenue is credited to the lottery fund, with net revenues after expenditures being credited to the state education trust fund. | ||||
Expenditures | $0 | $0 | $0 | $0 | |
Funding Source(s) | None | ||||
Appropriations | $0 | $0 | $0 | $0 | |
Funding Source(s) | None | ||||
• Does this bill provide sufficient funding to cover estimated expenditures? [X] N/A • Does this bill authorize new positions to implement this bill? [X] N/A | |||||
METHODOLOGY:
This bill removes the requirement for licensees to pay unclaimed historic horse racing vouchers money to the state and directs any unclaimed live/simulcast tickets and vouchers to the Governor’s scholarship fund. Currently, both unclaimed historic and live/simulcast racing funds are credited as lottery revenue. The Lottery Commission estimates the unclaimed historic and live/simulcast funds to be approximately $200,000 each. The Commission interprets this bill would eliminate unclaimed horse racing vouchers from being remitted to the state. Therefore, it is anticipated that beginning in FY 2025, this bill would annually decrease Lottery revenue by $400,000, and increase Governor’s scholarship fund revenue (attributable to unclaimed live/simulcast racing tickets/vouchers), and revenue retained by historic horse racing operators (attributable to historic horse racing tickets/vouchers), by $200,000 each.
AGENCIES CONTACTED:
Lottery Commission and Treasury Department