Fantasy Contest Act; registration requirements. (SB1566)

Introduced By

Sen. Dave Marsden (D-Burke)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Fantasy Contest Act; registration requirements. Allows the Department of Agriculture and Consumer Services (the Department) to set fantasy contest operator registration and renewal fees not to exceed (i) $5,000 for any applicant with annual gross receipts from the operation of fantasy contests in Virginia of not greater than $250,000 in the most recently completed fiscal year, (ii) $20,000 for any applicant with annual gross receipts from the operation of fantasy contests in Virginia of greater than $250,000 but not greater than $500,000 in the most recently completed fiscal year, or (iii) $40,000 for any applicant with annual gross receipts from the operation of fantasy contests in Virginia of greater than $500,000 in the most recently completed fiscal year. Under current law, every registration must be accompanied by an initial registration fee set by the Department. The bill changes the annual consumer protection testing and financial audit requirements for registrants to a single test conducted within the first year of operation and financial audits at the request of the Department. Read the Bill »

Status

01/09/2019: Awaiting a Vote in the Commerce and Labor Committee

History

DateAction
01/09/2019Prefiled and ordered printed; offered 01/09/19 19104188D
01/09/2019Referred to Committee on Commerce and Labor

Hearing Scheduled

This bill is scheduled to be heard in the Senate Commerce and Labor committee on 01/21/2019. It meets on Monday, 1/2 hour after adjournment - Senate Room B.

Duplicate Bills

The following bills are identical to this one: HB2617.

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