2021 -- S 0966 | |
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LC002980 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2021 | |
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A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT -- VIDEO-LOTTERY GAMES, | |
TABLE GAMES AND SPORTS WAGERING | |
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Introduced By: Senators Paolino, and Pearson | |
Date Introduced: June 17, 2021 | |
Referred To: Senate Special Legislation and Veterans Affairs | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 42-61.2-5 of the General Laws in Chapter 42-61.2 entitled "Video- |
2 | Lottery Games, Table Games and Sports Wagering" is hereby amended to read as follows: |
3 | 42-61.2-5. Allocation of sports-wagering and online sports-wagering revenue. |
4 | (a) Notwithstanding the provisions of ยง 42-61-15, the division of lottery is authorized to |
5 | enter into an agreement to allocate sports-wagering revenue derived from sports wagering and |
6 | online sports wagering at the hosting facilities between the state, the state's authorized sports- |
7 | wagering vendor, and the host facilities. The allocation of sports-wagering revenue and online |
8 | sports-wagering revenue shall be: |
9 | (1) To the state, fifty-one percent (51%) of sports-wagering revenue and online sports- |
10 | wagering revenue; |
11 | (2) To the state's authorized sports-wagering vendor, thirty-two percent (32%) of sports- |
12 | wagering revenue and online sports-wagering revenue; and |
13 | (3) To the host facilities, seventeen percent (17%) of sports-wagering revenue and online |
14 | sports-wagering revenue. |
15 | (b) Sports-wagering revenue and online sports-wagering revenue allocated to the state shall |
16 | be deposited into the state lottery fund for administrative purposes and then the balance remaining |
17 | into the general fund. |
18 | (c) The town of Lincoln shall be paid an annual flat fee of one hundred thousand dollars |
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1 | ($100,000) and the town of Tiverton shall be paid an annual flat fee of one hundred thousand dollars |
2 | ($100,000) in compensation for serving as the host communities for sports wagering. Provided, that |
3 | in Fiscal Year 2022 and Fiscal Year 2023, the town of Lincoln shall be paid an annual flat fee of |
4 | two hundred thousand dollars ($200,000) and the town of Tiverton shall be paid an annual flat fee |
5 | of two hundred thousand dollars ($200,000) in compensation for serving as the host communities |
6 | for sports wagering. For Fiscal Year 2024 and every fiscal year thereafter, the flat fee shall be |
7 | increased at the same rate of increase as the combined sports wagering revenue and online sports |
8 | wagering revenue; provided, however, in no fiscal year shall the flat fee be less than two hundred |
9 | thousand dollars ($200,000). |
10 | SECTION 2. This act shall take effect upon passage. |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO STATE AFFAIRS AND GOVERNMENT -- VIDEO-LOTTERY GAMES, | |
TABLE GAMES AND SPORTS WAGERING | |
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1 | This act would increase the flat fee paid to Lincoln and Tiverton as host communities for |
2 | sports wagering from one hundred thousand dollars ($100,000) to two hundred thousand dollars |
3 | ($200,000) for fiscal years 2022 and 2023, and for fiscal year 2024 and each fiscal year thereafter, |
4 | the flat fee would increase at the same rate of increase as the combined sports wagering and online |
5 | sports wagering revenue. |
6 | This act would take effect upon passage. |
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