HB 610

Bill Subjects

Actuarial Analysis Administrative Regulations And Proceedings Amusements And Recreation Appropriations Athletics Corrections Impact Effective Dates, Emergency Gambling Horses And Horse Racing Licensing Local Mandate Racing Retirement And Pensions Taxation Wagering

Abstract

Establish KRS Chapter 239 and create new sections relating to fantasy contests and online poker; define terms; establish requirements for fantasy contest procedures and for registration as a fantasy contest operator; require the cabinet to promulgate administrative regulations for the operation of fantasy contests; establish the wagering administration fund and direct the uses of that fund; require an annual audit of fantasy contest registrants; require any person offering online poker in the Commonwealth to have a license from the cabinet and require the cabinet to promulgate administrative regulations prescribing requirements for licensure; establish KRS Chapter 239A and create new sections to establish the Kentucky problem gambling assistance fund as a revolving account; describe the authorized purposes for the use of fund moneys; establish the Kentucky Problem Gambling Assistance Board to administer, organize, invest, and distribute money from the fund; set board regulatory powers, membership, procedures, powers, and duties; direct the board to invest moneys from the fund in a manner to maintain it in perpetuity; create new sections of KRS Chapter 230 to require the racing commission to institute a system of sports wagering at tracks; limit the types of events upon which wagers may be placed; establish sports wagering licensure requirements; prohibit participants from wagering on events in which they participate and from tampering with the outcome of a sporting event; amend KRS 230.210 to define "sports wagering"; amend KRS 230.215 to declare the intent to allow citizens to enjoy sports wagering and allow the racing commission to promulgate administrative regulations prescribing conditions under which sports wagering is to be conducted; amend KRS 230.225 and 230.240 to include sports wagering; amend KRS 230.260 to allow gambling addicts to self-report so they may be banned from gaming facilities; amend KRS 230.3615 and 230.750 to require breaks to be calculated to the penny; amend KRS 230.400 to expand the types of eligible claiming races; amend KRS 230.550 to include equine industry programs at the University of Louisville, the University of Kentucky, and the Kentucky Community and Technical College System in the equine industry fund; amend KRS 230.770 to remove the limit on the standardbred development fund that authorized only Kentucky-bred horses; amend KRS 230.990 to penalize participants who wager on sporting events or tamper with the outcome of a sporting event; create a new section of KRS Chapter 138 to define “adjusted gross income” and impose a tax on sports wagering; amend KRS 138.510 to change the tax rate beginning August 1, 2022, on all tracks conducting pari-mutuel wagering, tracks conducting telephone account wagering, tracks participating as receiving tracks in intertrack wagering, and all tracks participating as receiving tracks displaying simulcasts and conducting interstate wagering thereon to 1.5 percent of all money wagered; designate deductions from the revenue generated; amend KRS 138.513 to impose a tax beginning August 1, 2022, on all advance deposit account wagering licensees of 1.5 percent of all amounts wagered through the licensee by Kentucky residents; amend KRS 243.500 to exempt sports wagering and online poker; amend KRS 525.090 to exempt sports wagering; create a new section of KRS Chapter 528 to require the Kentucky State Police to establish a task force to remove illegal gambling devices; direct the Justice and Public Safety Cabinet to promulgate administrative regulations to govern the task force; amend KRS 528.010 to exempt devices authorized under KRS Chapters 154A, 230, 238, and 239 from gambling prohibitions; amend KRS 528.020, 528.070, and 528.080 to exempt fantasy contests, sports wagering, and online poker; amend KRS 137.190, 138.224, 138.226, 138.270, 138.344, 138.655, 138.675, 138.990, 139.200, 230.320, 230.360, 230.361, 230.362, 230.363, 230.364, 230.365, 230.366, 230.369, 230.371, 230.372, 230.373, 230.374, 230.378, 230.380, 230.781, and 230.783 to conform; appropriate $225,000,000 from the general fund in fiscal year 2022-2023 to the Kentucky problem gambling assistance fund; repeal KRS 138.480, 138.490, and 230.555; APPROPRIATION; EMERGENCY.