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130th MAINE LEGISLATURE |
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LD 587 |
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LR 726(02) |
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An Act Regarding
the Licensing of Persons To Conduct Advance Deposit Wagering |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Veterans and Legal Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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Biennium revenue increase - General Fund
Biennium revenue increase - Other Special Revenue Funds |
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| Fiscal Detail
and Notes |
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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.
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