VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2023 SESSION

• | print version

SB 1142 Sports betting; adjusted gross revenue, definitions.

Introduced by: Jeremy S. McPike | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Sports betting; adjusted gross revenue. Reduces the exclusion from a sports betting permit holder's adjusted gross revenue, on which it is taxed, all cash and the cash value of merchandise paid out as winnings to bettors, and the value of all bonuses or promotions provided to bettors as an incentive to place or as a result of their having placed Internet sports betting wagers, by eliminating such exclusion for the first 12 months of sports betting activity for a permit holder, and subsequently limiting such exclusion to no more than 1.75 percent of the total amount of all sports betting wagers placed with that permit holder each month after the first 12 months of sports betting activity for a permit holder. Under current law, pursuant to the 2022 Special Session I appropriation act, after the first 12 months of sports betting activity, a permit holder is prohibited from excluding from adjusted gross revenue any bonuses or promotions provided to bettors as an incentive to place or as a result of their having placed Internet sports betting wagers.

FULL TEXT

• 01/10/23  Senate: Prefiled and ordered printed; offered 01/11/23 23101704D  pdf
• 01/31/23  Senate: Committee substitute printed 23105663D-S1  pdf
• 02/09/23  House: Committee substitute printed 23106542D-H1  pdf | impact statement

AMENDMENTS

• House committee, floor amendments and substitutes offered
• Senate committee, floor amendments and substitutes offered

HISTORY

• 01/10/23  Senate: Prefiled and ordered printed; offered 01/11/23 23101704D
• 01/10/23  Senate: Referred to Committee on Finance and Appropriations
• 01/31/23  Senate: Reported from Finance and Appropriations with substitute (11-Y 4-N)
• 01/31/23  Senate: Committee substitute printed 23105663D-S1
• 02/01/23  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/02/23  Senate: Read second time
• 02/02/23  Senate: Reading of substitute waived
• 02/02/23  Senate: Committee substitute agreed to 23105663D-S1
• 02/02/23  Senate: Engrossed by Senate - committee substitute SB1142S1
• 02/03/23  Senate: Read third time and passed Senate (31-Y 7-N 1-A)
• 02/08/23  House: Placed on Calendar
• 02/08/23  House: Read first time
• 02/08/23  House: Referred to Committee on General Laws
• 02/09/23  House: Reported from General Laws with substitute (16-Y 6-N)
• 02/09/23  House: Referred to Committee on Appropriations
• 02/09/23  House: Committee substitute printed 23106542D-H1
• 02/10/23  House: Assigned App. sub: General Government and Capital Outlay
• 02/13/23  House: Tabled in Appropriations (21-Y 0-N)