A proposed amendment to legislation for sports betting in Illinois would raise the tax rate up to 25%.
US.- Sports betting continues to move forward in the US and Illinois is considering how to regulate the segment. After lawmakers introduced a proposal, an amendment has appeared, suggesting to increase the tax rate on the segment.
Representative Michael Zalewski filed two amendments before a subcommittee hearing. He proposed to set a tax rate of 25%, while a second suggestion includes language to establish an integrity fee of 0.2%.
The first one would set all master licence fees at US$10 million, or 5% of net terminal income, adjusted gross receipts or total handle.
The second amendment would set such fee at US$20 million and would allow only three online licences.
The gaming industry continues to evolve and that’s why sports betting in Illinois may soon turn legal after lawmakers postponed its debate last year.
Back on February 15, Rep. Michael Zalewski introduced House Bill 3308, which is the proposed legislation under discussion. The politician referred it to House Rules, and Revenue and Finance Committees, but its lack of detail forced further debate.
Now, Rep. Zalewski and three other lawmakers proposed the four amendments in order to set the regulatory model to follow.
Three potential amendments would set a US$10 million licensing fee for operators to pay. The other one would give the state lottery the right to run sports betting in Illinois, leaving private operators out of the business.