KY HB241 | 2021 | Regular Session

Status

Spectrum: Bipartisan Bill
Status: Introduced on January 9 2021 - 25% progression
Action: 2021-01-09 - to Committee on Committees (H)
Pending: House Committee On Committees Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Establish KRS Chapter 239 and create new sections to define “adjusted gross revenue,” “beginner,” “cabinet, “confidential information,” “entry fee,” “fantasy contest,” “fantasy contest operator," “fantasy contest participant," “highly experienced player,” “immediate family,” “location percentage,” “net poker revenue,” “online poker,” “person,” “principal stockholder,” “rake,” “registered fantasy contest operator,” “script,” “secretary,” and “wager”; establish requirements for registration as a fantasy contest operator; require the cabinet to promulgate administrative regulations for the operation of fantasy contests; establish the wagering administration fund and direct the uses of that fund; establish the Kentucky problem gambling assistance account and direct the uses of that account; require an annual audit of fantasy contest registrants; establish requirements for fantasy contest procedures; require any person offering online poker in the Commonwealth to have a license from the cabinet and require the cabinet to promulgate administrative regulations prescribing requirements for licensure including geolocation software, age verification, and security and accounting standards; establish an online poker account in the State Treasury; amend KRS 230.210 to define "professional sports venue" and "sports wagering"; create new sections of KRS Chapter 230 to require the racing commission to institute a system of sports wagering at tracks and other specified locations; limit the types of events upon which wagers may be placed; amend KRS 230.215 to declare the intent to allow citizens to enjoy sports wagering and allow the racing commission to promulgate administrative regulations prescribing conditions under which sports wagering is to be conducted; amend KRS 230.225, 230.240, and 230.260 to include sports wagering; create a new section of KRS Chapter 230 to establish sports wagering licensure requirements; amend KRS 230.320 to conform; amend KRS 230.361 to include sports wagering; amend KRS 230.3615 to conform; create a new section of KRS Chapter 138 to define “adjusted gross income” and impose a tax on sports wagering; amend KRS 230.362, 230.363, 230.364, 230.365, 230.366, 230.369, 230.371, 230.372, 230.373, 230.374, and 230.750 to conform; create a new section of KRS Chapter 230 to prohibit participants from wagering on events in which they participate and to prohibit tampering with the outcome of a sporting event; amend KRS 230.990 to provide penalties for participants who wager on sporting events or tamper with the outcome of a sporting event; amend KRS 243.500 to exempt sports wagering and online poker; amend KRS 525.090 to exempt sports wagering; amend KRS 528.010 to exempt fantasy contests, sports wagering, and online poker and the devices used in the conduct of those forms of wagering; amend KRS 528.020, 528.070, and 528.080 to exempt fantasy contests, sports wagering, and online poker; create a noncodified section to assert that the provisions of the Act are severable.

Tracking Information

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Title

AN ACT relating to wagering and making an appropriation therefor.

Sponsors


History

DateChamberAction
2021-01-09Houseto Committee on Committees (H)
2021-01-09Houseintroduced in House

Subjects


Kentucky State Sources


Bill Comments

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