US HB2230 | 2011-2012 | 112th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 6-2)
Status: Introduced on June 16 2011 - 25% progression, died in committee
Action: 2011-06-16 - Referred to House Education and the Workforce
Pending: House Education And The Workforce Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Internet Gambling Regulation and Tax Enforcement Act of 2011 - Amends the Internal Revenue Code to: (1) impose a tax on each Internet gambling licensee equal to 2% of all funds deposited by Internet gambling customers of such licensee for placing a bet or wager and an additional 50% tax on unauthorized bets or wagers; (2) require such licensees to keep daily records of gambling deposits and file informational returns identifying themselves and the individuals placing bets or wagers with them; (3) require licensees to pay state and Indian tribal governments an amount equal to the monthly pro rata state and Indian tribal government online gambling tax; (4) require withholding of tax on net Internet gambling winnings and on the gross amount of winnings of nonresident aliens; and (5) extend the excise tax on wagers to include wagers placed within the United States or any commonwealth, territory, or possession by a U.S. citizen or resident. Directs the Secretary of the Treasury to make grants to states to carry out an American Heritage Program through state arts agencies. Allocates .5% of the tax revenues received after December 31, 2010, that are attributable to Internet gambling to the American Heritage Block Grant Fund to finance the American Heritage Program. Amends the Social Security Act to establish the Transitional Assistance Trust Fund to finance state plans for transitional education and job training assistance to individuals who are, or were formerly, in foster care. Allocates 25% of the tax revenues received after December 31, 2010, that are attributable to Internet gambling to the Trust Fund.

Tracking Information

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Title

Internet Gambling Regulation and Tax Enforcement Act of 2011

Sponsors


History

DateChamberAction
2011-06-16HouseReferred to House Education and the Workforce
2011-06-16HouseReferred to House Ways and Means
2011-06-16HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects


US Congress State Sources


Bill Comments

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