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GA SB142
Bill
Status
Engrossed
3/5/2021
Primary Sponsor
Jeff Mullis
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AI Summary
- Legalizes sports wagering in Georgia as a lottery game under the Georgia Lottery Corporation, requiring licensees to operate online sports wagering platforms with a minimum of six licenses issued at a $10,000 application fee and $100,000 annual licensing fee
- Imposes a 16% privilege tax on licensees' adjusted gross income, with all tax revenue deposited into the Lottery for Education Account; wagers are exempt from state sales and use taxes
- Restricts bettors to individuals aged 21 or older who are physically present in Georgia, caps deposits at $2,500 per 30-day period, and prohibits wagering on collegiate sporting events involving Georgia-based institutions and all high school events
- Prohibits athletes, coaches, team employees, sports governing body officials, and others with the ability to affect outcomes from placing wagers on relevant sporting events, and requires licensees to maintain a minimum $500,000 cash reserve plus a $5 million bond
- Contingent on passage and voter ratification of a constitutional amendment authorizing sports wagering in the 2022 general election, with an effective date of January 1, 2023
Legislative Description
Lottery for Education; lottery game of sports wagering in this state; provide
Last Action
House Committee Favorably Reported By Substitute
3/29/2022
Committee Referrals
Economic Development and Tourism3/8/2021
Regulated Industries and Utilities2/10/2021
Full Bill Text
No bill text available