Senate Community, Economic and Recreational Development Committee
Monday, June 27. 2016
Off the Floor
Senate Rules Room (Main Capitol)
Senate Bill 1324, Printer’s No. 1946 (Williams & Reschenthaler) – Bill Summary, provides for fantasy contests; imposing duties upon the Department of Revenue, the Department of Drug and Alcohol Programs and the Pennsylvania Gaming Control Board (PGCB); and making appropriations. More Specifically this legislation provides for the Fantasy Sports Consumer Protection Act that provides for the licensing and regulation of fantasy contests
- [A09106] (Reschenthaler) Amendment Summary
This is primarily a technical amendment, which also specifies the following substantive provisions:
- In regards to the requirement that licensed operators annually contract for an independent audit and with a testing laboratory, except for a licensed operator operating season-long fantasy contests it is further specified that this exception applies where such generates less than $250,000 in season-long fantasy contest adjusted revenue, unless the board determines otherwise.
- It further specifies the requirement of a single toll-free telephone number (compulsive and problem play of fantasy contests) [vs. the potential for multiple numbers].
- In regards to the nonrefundable application fee which may not exceed the amount necessary to reimburse the board for all costs incurred it is further specified that such amount may not exceed an amount equal to 5% of the applicant’s fantasy contest adjusted revenues for the previous calendar year if the applicant is not a licensed gaming entity.
- In relation to the reasons to deny a license it specifies that an applicant is not compliant with taxes due in general [vs. due to the department (DOR)].
- In regards to the requirement that a licensed operator segregate a participants funds and maintain a reserve (i.e., in the form of cash, irrevocable letter of credit, bond, etc.), it alternative provides that a licensed operator of season-long fantasy contests that generate less than $250,000 in season-long fantast contest adjusted revenue may contract with a third party to hold prizes and awards until after the season is concluded.
- Adds no licensed operator may knowing allow a self-excluded individual to keep a prize or award and provides any amount forfeited by a self-excluded individual shall be deposited in the General Fund.
- Tax rate is set at 18% [vs. 5%].