Perry Will voted Yea (Passage) on this Legislation.
Title: Authorizes Casinos to Offer Individual Lines of Credit
Vote to pass a bill that authorizes casino's to offer individual lines of credit.
Repeals the prohibition on individuals licensed by the Colorado limited gaming act from extending credit to another individual so long as the following conditions are met, including that (Sec. 1):
The licensee evaluates the individuals credit and establishes that they are credit worthy;
The licensee does not have knowledge of a conviction of the individual for committing specified unlawful acts; and
The licensee determines that the individual has no outstanding child support debt or unpaid debt due to the state and doesn’t owe any restitution from a criminal case.
Specifies documentation the licensee must maintain for any credit extension (Sec. ).
Prohibits licensees from reducing their gaming tax burden through deducting unpaid credit from their gross proceeds (Sec. 1).
Authorizes licensees to pursue all remedies at law to recover unpaid credit as well as interest and reasonable recovery costs (Sec. 1).
Prohibits licensees from settling or comprising the amount to be repaid until specific conditions are met (Sec. 1).
Defines and outlines record-keeping requirements for licensees that extend credit (Sec. 1).
Title: Authorizes Casinos to Offer Individual Lines of Credit
Vote to pass a bill that authorizes casino's to offer individual lines of credit.
Repeals the prohibition on individuals licensed by the Colorado limited gaming act from extending credit to another individual so long as the following conditions are met, including that (Sec. 1):
The licensee evaluates the individuals credit and establishes that they are credit worthy;
The licensee does not have knowledge of a conviction of the individual for committing specified unlawful acts; and
The licensee determines that the individual has no outstanding child support debt or unpaid debt due to the state and doesn’t owe any restitution from a criminal case.
Specifies documentation the licensee must maintain for any credit extension (Sec. ).
Prohibits licensees from reducing their gaming tax burden through deducting unpaid credit from their gross proceeds (Sec. 1).
Authorizes licensees to pursue all remedies at law to recover unpaid credit as well as interest and reasonable recovery costs (Sec. 1).
Prohibits licensees from settling or comprising the amount to be repaid until specific conditions are met (Sec. 1).
Defines and outlines record-keeping requirements for licensees that extend credit (Sec. 1).
Title: Authorizes Casinos to Offer Individual Lines of Credit
Vote to pass a bill that authorizes casino's to offer individual lines of credit.
Repeals the prohibition on individuals licensed by the Colorado limited gaming act from extending credit to another individual so long as the following conditions are met, including that (Sec. 1):
The licensee evaluates the individuals credit and establishes that they are credit worthy;
The licensee does not have knowledge of a conviction of the individual for committing specified unlawful acts; and
The licensee determines that the individual has no outstanding child support debt or unpaid debt due to the state and doesn’t owe any restitution from a criminal case.
Specifies documentation the licensee must maintain for any credit extension (Sec. ).
Prohibits licensees from reducing their gaming tax burden through deducting unpaid credit from their gross proceeds (Sec. 1).
Authorizes licensees to pursue all remedies at law to recover unpaid credit as well as interest and reasonable recovery costs (Sec. 1).
Prohibits licensees from settling or comprising the amount to be repaid until specific conditions are met (Sec. 1).
Defines and outlines record-keeping requirements for licensees that extend credit (Sec. 1).
Title: Authorizes Casinos to Offer Individual Lines of Credit