LA HB587

Replaces the current flat tax rates on sports wagering (10% for onsite, 15% for online) with a unified progressive tax structure ranging from 20% to 40% based on net gaming proceeds

Progressive tax brackets: 20% on first $30 million, 25% on $30-50 million, 30% on $50-100 million, 35% on $100-200 million, and 40% on proceeds exceeding $200 million

Increases the portion of sports wagering tax revenue dedicated to the Louisiana Early Childhood Education Fund from 25% to 40%

Raises the annual cap on Early Childhood Education Fund contributions from $20 million to $30 million

Amends R.S. 27:625 and R.S. 47:9105 to apply the same progressive tax structure to both casino-based and Louisiana Lottery Corporation sports wagering operations