Fantasy contests; regulation and taxation, civil penalty, repeals Fantasy Contests Act.
It became law on Apr 13.
- Stage
- Became law
- Started in
- House
- Latest action
- Apr 14
Where it stands
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What it does
Fantasy contests; regulation and taxation. Imposes (i) a 10 percent tax on a fantasy contest operator's fantasy contest revenue, with 2.5 percent of the tax revenue being allocated to the Problem Gambling Treatment and Support Fund and the remaining 97.5 percent being allocated to the general fund, and (ii) a 2.6 percent fee on a fantasy contests operator's fantasy contest revenue to be utilized by the Virginia Lottery to cover the costs of administration and regulation of fantasy contests in the Commonwealth. The bill also limits the definition of "fantasy contest" and requires fantasy contest operators to apply to the Virginia Lottery for a permit before offering any fantasy contest in the Commonwealth. This bill is identical to SB 129.
Where it goes next
Law in Virginia. Agencies now write the rules that carry it out, and courts can stay or strike it.
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Sponsors
The lawmakers who put their names on it, lead sponsors first.
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