Sports betting; adjusted gross revenue, definitions. (SB1142)

Introduced By

Sen. Jeremy McPike (D-Dale City)

Progress

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

Description

Sports betting; adjusted gross revenue. Reduces the exclusion from a sports betting permit holder's adjusted gross revenue, on which it is taxed, all cash and the cash value of merchandise paid out as winnings to bettors, and the value of all bonuses or promotions provided to bettors as an incentive to place or as a result of their having placed Internet sports betting wagers, by eliminating such exclusion for the first 12 months of sports betting activity for a permit holder, and subsequently limiting such exclusion to no more than 1.75 percent of the total amount of all sports betting wagers placed with that permit holder each month after the first 12 months of sports betting activity for a permit holder. Under current law, pursuant to the 2022 Special Session I appropriation act, after the first 12 months of sports betting activity, a permit holder is prohibited from excluding from adjusted gross revenue any bonuses or promotions provided to bettors as an incentive to place or as a result of their having placed Internet sports betting wagers. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2023Prefiled and ordered printed; offered 01/11/23 23101704D
01/10/2023Referred to Committee on Finance and Appropriations
01/27/2023Senate committee, floor amendments and substitutes offered
01/31/2023Reported from Finance and Appropriations with substitute (11-Y 4-N) (see vote tally)
01/31/2023Committee substitute printed 23105663D-S1
02/01/2023Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/02/2023Read second time
02/02/2023Reading of substitute waived
02/02/2023Committee substitute agreed to 23105663D-S1
02/02/2023Engrossed by Senate - committee substitute SB1142S1
02/03/2023Read third time and passed Senate (31-Y 7-N 1-A) (see vote tally)
02/08/2023Placed on Calendar
02/08/2023Read first time
02/08/2023Referred to Committee on General Laws
02/09/2023House committee, floor amendments and substitutes offered
02/09/2023Reported from General Laws with substitute (16-Y 6-N) (see vote tally)
02/09/2023Referred to Committee on Appropriations
02/09/2023Committee substitute printed 23106542D-H1
02/10/2023Assigned App. sub: General Government and Capital Outlay
02/13/2023Impact statement from DPB (SB1142H1)
02/13/2023Tabled in Appropriations (21-Y 0-N) (see vote tally)