Minnesota Senate Advances Bill with Doubled Sports Betting Tax
Date: 2024-03-15 Author: Dima Zakharov Categories: SPORTS BETTING
Tax Doubling Decision
The Minnesota Senate Tax Committee has taken a bold step by voting to double the proposed tax rate for legal statewide mobile sports betting. This move increases the tax rate from 10% to 20%, marking a substantial change in the landscape of sports betting legislation in the state.
Bill Progression
The bill in question, SF 1949, has undergone rigorous scrutiny, having passed through six Senate committees. Now, it heads to the Senate Finance for further consideration. The potential implications of this bill are significant for Minnesota's gambling landscape.
Key Issues
A critical issue at hand is whether to grant exclusivity for sports betting to the state's 11 tribes or include horse tracks in the legislation. The current Senate version of the bill includes the tracks, sparking opposition from the Minnesota Indian Gaming Association.
Governor's Support
Governor Tim Walz has previously expressed his support for legalizing sports betting. If the bill successfully navigates through both chambers of the legislature, it could signify a significant shift in Minnesota's gambling policies.
Tax Utilization
The amendment not only addresses the tax rate but also outlines how the tax revenue from sports betting would be allocated. This includes funding for problem gambling initiatives, support for the state's racetracks, and contributions to various other sectors such as tourism and education.
Amendment Details
Several amendments were proposed during the committee's deliberations, with only one passing successfully. Senator Aric Putnam's amendment, which raised the tax rate, was approved, while others, including those advocating for changes in fund distribution and licensing procedures, did not succeed.
