Push for Georgia Bills in House Committee on Economic Development and Tourism Today
Rep. Ron Stephens will be pushing bills TODAY AT 3PM in the House Committee on Economic Development and Tourism. A live stream should be available via this link.
One measure would be a constitutional amendment that would legalize sports betting as well as other forms of gambling, which are currently illegal under the state constitution. If this passes it would need to be ratified by the voters this coming November.
A separate measure related to the regulation of sports betting will also be considered. Details below. Stephens who has quietly been working on this for weeks presented his ideas before the House Republican caucus earlier today. It seems as if he had sufficient support to push the bill for a hearing today. They only have this week to get it all done, which will be a difficult task given the historical opposition to gambling expansion in the state.
Sports betting authorization details, include:
- Establishes the Georgia Sports Betting Commission to provide regulatory oversight of sports betting.
- Eligibility for retail sports betting licenses limited to pro sports teams (Braves, Falcons, Hawks, Dream, Atlanta United, Atlanta Motor Speedway, the Masters, Michelin Raceway Road Atlanta and the PGA Tour (so long as two events are in Georgia).
- 18 online sports betting licenses, half for sports entities and half un-tethered.
- The Georgia Lottery Corporation can put sports betting kiosks or lottery machines that include sports betting in bars, restaurants, convenience stores and retail outlets that currently offer lottery products.
- Sports teams and operators pay $1 million annually for a license, with an application fee of $100,000.
- Between five and 10 Type 2 distributors may contract with the GLC. Each distributor pays a $100,000 annual license fee and $10,000 application fee.
- Type 1 licensees pay a 20% tax rate on adjusted gross income. Type 2 licensees pay 20% on gross revenue.
- Revenue is split equally between traditional HOPE college scholarships and Pre-K funding, where lottery revenue goes, and a needs-based opportunity fund for education.
- Credit cards aren’t allowed to place sports bets. Wagers can be made using cash, debit cards or wire transfers.
- Sporting event operators may request that official league data be required for in-game wagers, if such data is available on commercially reasonable terms.
- Effective date of July 1, 2023, if ratified by voters in the November election.