House Bill No. [insert number] proposes amendments to the taxation of online sports wagering and video poker in Louisiana, specifically adjusting the tax rate and allocating the generated revenue. The bill changes the current tax rate on online sports wagering from a fixed 15% to a rate equivalent to that applied to video draw poker devices at qualified truck stop facilities. Additionally, it reallocates the revenue generated from this tax, directing 25% to a newly created Supporting Programs, Opportunities, Resources, and Teams Fund (SPORT Fund) and 3% to the Louisiana Postsecondary Inclusive Education Fund. The remaining funds will continue to be available as state general funds.

The bill also establishes the SPORT Fund, which will be administered by the Board of Regents and dedicated to supporting athletic departments at public universities competing in NCAA Division One athletics. The funds will be used for various benefit awards for student athletes, including scholarships and medical coverage, and cannot be used to replace existing awards or scholarships. The Board of Regents is tasked with creating rules for the distribution of these funds to ensure they are allocated appropriately to eligible universities and student athletes.

Statutes affected:
HB639 Original: 27:625(B)