Fantasy Contests Act; regulation and taxation. Imposes a 10 percent tax on a fantasy contest operator's fantasy contest revenue, with five percent of the tax revenue being allocated to the Problem Gambling Treatment and Support Fund and the remaining 95 percent being allocated to the general fund. The bill also limits the definition of "fantasy contest" and requires fantasy contest operators to apply to the Department of Agriculture and Consumer Services for a permit before offering any fantasy contest in the Commonwealth.

Statutes affected:
Introduced: 2.2-3705.3, 37.2-314.2, 59.1-556, 59.1-559, 59.1-561, 59.1-562, 59.1-563, 59.1-565, 59.1-566, 59.1-567, 59.1-564