Bill Text: HI SB2442 | 2016 | Regular Session | Introduced
Bill Title: Children and Youth Day; State Event
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Engrossed - Dead) 2016-03-10 - Referred to LMG, FIN, referral sheet 26 [SB2442 Detail]
Download: Hawaii-2016-SB2442-Introduced.html
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THE SENATE |
S.B. NO. |
2442 |
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TWENTY-EIGHTH LEGISLATURE, 2016 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to fantasy contests.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The Hawaii Revised Statutes is amended by adding a new chapter to be appropriately designated and to read as follows:
"Chapter
FANTASY contests
§ -1 Definitions. As used in this chapter, unless the context otherwise requires:
"Confidential information" means information related to the play of a fantasy contest by fantasy contest players obtained as a result of or by virtue of a person's employment.
"Fantasy contest" means any fantasy or simulated game or contest in which:
(1) The value of all prizes and awards offered to winning participants are established and made known to the participants in advance of the contest;
(2) All winning outcomes reflect the relative knowledge and skill of the participants and are determined predominately by accumulated statistical results of the performance of individuals, including athletes in the case of sports events; and
(3) No winning outcome is based on the score, point spread, or any performance of any single actual team or combination of teams, or solely on any single performance of an individual athlete or player in any single actual event.
"Fantasy contest operator" means a person or entity that offers fantasy contests for a cash prize to members of the public.
"Fantasy contest player" means a person who participates in a fantasy contest offered by a fantasy contest operator.
§ -2 Fantasy contest protections. A fantasy contest operator offering fantasy contests in the State shall implement procedures that are intended to:
(1) Prevent employees of the fantasy contest operator and relatives living in the same household as the employees from competing in any fantasy contest offered by any fantasy contest operator in which the operator offers a cash prize;
(2) Prevent the sharing of confidential information that could affect fantasy contest play with third parties until the information is made publicly available;
(3) Prevent the fantasy contest operator from being a participant in a fantasy contest that the fantasy contest operator offers;
(4) Have a mechanism in place that is designed to verify that a fantasy contest player is eighteen years of age or older;
(5) Ensure that a person who participates or officiates in a game or contest that is the subject of a fantasy contest shall be restricted from entering a fantasy contest that is determined, in whole or in part, on the accumulated statistical results of a team of individuals in the game or contests in which the person is a participant or official;
(6) Allow individuals to restrict themselves from entering a fantasy contest upon request and take reasonable steps to prevent those individuals from entering the fantasy contest operator's fantasy contests;
(7) Disclose the number of entries a single fantasy contest play may submit to each fantasy contest and take reasonable steps to prevent fantasy contest players from submitting more than the allowable number; and
(8) Segregate fantasy contest player funds from fantasy operational funds and maintain a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination thereof in the amount of the deposits in fantasy contest player accounts for the benefit and protection of authorized fantasy contest player funds that are held in fantasy contest accounts.
§ -3 Exemption from gambling. Nothing in part III of chapter 712 shall apply to a fantasy contest as defined in § ‑1."
SECTION 2. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Fantasy Contests; Protections; Exemption
Description:
Establishes requirements for fantasy contest operators to offer and manage fantasy contests and exempts fantasy contests from state gambling laws.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
