LD 587 LR 726(02)
An Act Regarding the Licensing of Persons To Conduct Advance Deposit Wagering
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Veterans and Legal Affairs
Fiscal Note Required: Yes
Fiscal Note
Biennium revenue increase - General Fund
Biennium revenue increase - Other Special Revenue Funds
Fiscal Detail and Notes
This bill increases the number of Advance Deposit Wagering (ADW) licenses the Gambling Control Board within the Department of Public Safety may grant by removing the limit of one license awarded through a competitive bidding process in current law. Instead, commercial tracks, off-track betting facilities and multijurisdictional account wagering providers could apply to obtain a license to conduct ADW. Each application will require an initial $1,000 application fee, a $500 fee for a 5-year license and be subject to a $250 renewal fee. Licensees will be required to remit 5% of their gross ADW income for distribution by the board. Application and license fees will increase General Fund revenue. ADW income will increase Other Special Revenue Funds revenue. No estimate of these revenue increases is made at this time.