LA HB639

Increases the tax rate on online sports wagering from 15% to 21.5% on net gaming proceeds from websites and mobile applications

Creates the Supporting Programs, Opportunities, Resources, and Teams Fund in the state treasury, receiving 25% of online sports wagering tax revenue

Allocates 3% of online sports wagering tax revenue to the Louisiana Postsecondary Inclusive Education Fund

Fund monies go to the Board of Regents for distribution to athletic departments at public universities competing in NCAA Division I (FBS and FCS levels) for student athlete benefits including scholarships, insurance, medical coverage, facility enhancements, litigation settlement fees, and Alston awards

Each eligible university athletic department receives an equal distribution of funds, which cannot supplant existing awards or scholarships