Sen. Carroll wants his state to be ready to go on sports betting if restrictive federal law is repealed
Kentucky Senator Julian Carroll filed a new bill – BR 155 – Wednesday which is designed to lay the groundwork for intrastate sports betting in the event that the restrictive federal Professional and Amateur Sports Protection Act is nullified by the upcoming US Supreme Court appeal by New Jersey (see previous InfoPowa reports).
The new bill is conditional on PASPA being cast aside, specifically proposing that it will be effective only “…if the federal Professional and Amateur Sports Protection Act is repealed by Congress or is rendered void by the United States Supreme Court.”
Carroll’s bill requires “the Kentucky Horse Racing Commission to institute a sports wagering system,” proposing that this body be charged with framing the necessary regulations and holding regulatory and “forceful” enforcement powers.
Senator Carroll has proposed a licensing fee for sports operators of $250,000 and a rather high tax rate of 20 percent on handle.
The bill also details arrangements to establish a sports wagering distribution trust fund and appropriate moneys from that fund; include sports wagering among the activities that are regulated by the racing commission; include sports wagering among the activities that are not subject to local control; establish penalties for tampering with the outcome of a sporting event and participant wagering on a sporting event.
See the full text here: http://www.lrc.ky.gov/record/18RS/prefiled/BR155.htm
