BATON ROUGE—Sports activities playing is on its solution to Louisiana, and legislators have a plan to divvy up the tax cash.
Sen. Rick Ward, a Republican from Port Allen, handed a invoice by way of the Senate with a 33-3 vote. Ward’s measure, Senate Invoice 142, will work hand-in-hand with the ultimate legislative guidelines for sports activities wagering which can be nonetheless to be decided.
“I do not know when the primary deposits would occur,” mentioned Ward. “There is a provisional license to let this begin as early as the autumn.”
Ward added amendments to the invoice in the course of the ground assembly detailing simply how the cash can be distributed:
20% TO EARLY CHILDHOOD EDUCATION
The invoice states that the Training Fund is to not exceed over $10 million in payout from playing income on actual sports activities occasions. Fantasy sports activities wagering, a separate sort of betting that ought to be operational within the state earlier than fall, will deposit all of its funds into early schooling.
10% TO THE PARISHES
The 55 parishes that accepted sports activities wagering in 2020 will see among the cash return to them. Ten % of what the state collects can be separated and given to parishes proportionately to the taxes pulled in.
1% TO THE BEHAVIORAL HEALTH & WELLNESS FUND
The invoice creates a fund to put money into complete remedy amenities for people with playing issues. The state treasurer may have management over the fund.
1% TO THE LOUISIANA STATE RACING COMMISSION
A query was raised on the ground by Sen. Jay Morris, R-West Monroe, who later voted in favor of the invoice, asking Ward why racing associations had been getting cash.
Ward appeased Morris by exhibiting what a low number one% is. Ward responded with a hypothetical state of affairs of the state gathering $5 million in a single 12 months and giving the fee $500,000, which glad Morris.
The cash taken in by the fee can be used to complement the money prizes for horse racing within the state. The 1% is split into thirds, with 2/3 going to Louisiana Thoroughbred Breeders Affiliation and the rest going to the Louisiana Quarter Horse Breeder Affiliation.
68% GENERAL FUND
The remaining funds can be entered into the final fund for the state’s use.
The Senators who opposed the invoice are Mike Fesi, R-Houma; Karen Peterson, D-New Orleans; and Glen Womack, R-Baton Rouge.
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