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2019 SESSION

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SB 1574 Revenue sharing; gaming in the Commonwealth.

Introduced by: Thomas K. Norment, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Revenue sharing; gaming in the Commonwealth. Creates a revenue sharing program, if gaming is authorized in the Commonwealth, that would require the owner or operator of any gaming establishment to share a percentage of its adjusted gross receipts with the Commonwealth, ranging from 13 to 15 percent based on its annual adjusted gross receipts. The revenues would be distributed as follows: 30 percent to transportation initiatives, with one-third allocated to projects in the Interstate 81 corridor, one-third allocated to the Northern Virginia Transportation Authority Fund, and one-third allocated to the Hampton Roads Transportation Fund; 30 percent to school construction and modernization; 10 percent to support increases in teacher pay; 10 percent to support initiatives related to higher education affordability; 10 to the locality in which the revenues were collected; nine percent to support the marketing and promotion of tourism destinations, and one percent to used to prevent and treat gambling addictions.


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