Merchandise prizes
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
When any merchandise prize is awarded in a game of bingo, its value shall be its cost to the licensee or, if donated, its fair market value. The fair market value of merchandise prizes donated to the licensee shall not be reported as an expenditure in the financial statement of bingo operations. No merchandise prize shall be redeemable or convertible into cash directly or indirectly by the licensee. The provisions of this section shall not be construed so as to circumvent the statutory prize limits set forth in General Municipal Law 479(5) and 481(1)(a).