NJ company to pay $160K; violated NY bottle law - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

NJ company to pay $160K; violated NY bottle law

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ALBANY, N.Y. (AP) - New York Attorney General Eric Schneiderman says a New Jersey beverage distributor will pay nearly $160,000 for repeatedly violating New York's returnable bottle law.

Schneiderman says FID Distributors pocketed money it owed New York for unclaimed bottle deposits for almost two years.

New York's bottle law requires that a 5-cent deposit be collected on each beverage container sold. When containers aren't returned for refunds, the company that collected the deposits is required to send 80 percent of the unclaimed deposit money to New York.

Schneiderman says FID collected nearly $412,000 in unclaimed deposits and failed to remit any of it to New York. A settlement was reached that reflected the company's poor financial health.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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