Signed by Governor John Bel Edwards

Vote Smart's Synopsis:

Vote to pass a bill that establishes an 8 percent taxation rate for fantasy sports gambling.

Highlights:

• Authorizes a tax of 8 percent on all of an operator’s net revenue of fantasy sports contests offered to consumers within the state, which will be due and payable on a monthly basis (Sec. 1).

• Defines an “operator’s net revenue” for fantasy sports contests as the amount equal to the total entry fees collected from all participants entering such fantasy sports contests, less the winnings paid to participants (Sec. 1).

• Authorizes the division of tax revenue to collect all taxes imposed or assessed under the provisions of this act and transfer the tax revenue collected immediately to the funds of the state treasury (Sec. 1).

• Specifies that this act will take effect immediately upon passage and signing by the governor (Sec. 2).

Full Bill Text