Sports betting bill passes key Senate committee in North Carolina
The Senate Finance Committee in North Carolina has passed a bill to legalise and tax sports betting in the state.
US.- The North Carolina bill to legalise and tax sports betting in the state has cleared the Senate Finance Committee.
In a close vote, Senate Bill 688 was approved and moved on to be discussed by three more Senate commitees before reaching the House.
The proposed legislation would grant from 10 to 12 sports betting licences for land-based and online gambling operations. Each licence would require an initial $500,000 payment and would be taxed an 8 per cent on transactions. There would be a $100,000 renewal fee.
Subcontractors working with the licensees would have to pay an initial $25,000 and a $10,000 annual renewal fee.
According to sponsoring senator Jim Perry, the tax rate may be increased during the legislative process, which is still at an early stage. Perry says he’d like some revenue to go toward education, along the lines of the state lottery, but that is still not yet mentioned in the bill.
