Loading chat...
LA HB542
Bill
Status
5/28/2025
Primary Sponsor
Steven Jackson
Click for details
AI Summary
-
Gaming operators may deduct promotional play wagers from taxable revenue, with the deduction being the greater of $5 million or a percentage cap based on taxable revenue
-
Percentage cap phases in over three years: 4% of taxable revenue in 2026, 7% in 2027, and 10% in 2028 and thereafter
-
Applies to riverboat gaming licensees, the New Orleans casino operator, and eligible slot machine facilities at racetracks
-
Amends definitions of "net gaming proceeds," "gross revenue," and "net slot machine proceeds" in Louisiana gaming law (R.S. 27:44, 205, and 353)
-
Estimated to reduce state General Fund revenue by $974,000 due to increased promotional play deductions
Legislative Description
Provides for the allowable amount of promotional play offered by certain gaming operators and for deductions regarding promotional play (EG1 -$974,000 GF RV See Note)
GAMING
Last Action
Read by title and returned to the Calendar, subject to call.
6/9/2025