Bill Text: AZ SB1459 | 2022 | Fifty-fifth Legislature 2nd Regular | Engrossed
Bill Title: Event wagering; fantasy sports; fees
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2022-04-18 - Senate motion to reconsider third reading [SB1459 Detail]
Download: Arizona-2022-SB1459-Engrossed.html
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House Engrossed Senate Bill
event wagering; fantasy sports; fees |
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State of Arizona Senate Fifty-fifth Legislature Second Regular Session 2022
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SENATE BILL 1459 |
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An Act
amending section 5-1211, Arizona Revised Statutes; repealing section 5-1318, Arizona Revised Statutes, as amended by Laws 2021, chapter 405, section 3; amending section 5-1318, Arizona Revised Statutes, as added by Laws 2021, chapter 234, section 4; relating to fantasy sports contests and event wagering.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 5-1211, Arizona Revised Statutes, is amended to read:
5-1211. Fees
A. The department shall establish a fee for the privilege of operating fantasy sports contests. In determining the fee, the department shall consider the highest percentage of revenue share that an Indian tribe pays to this state pursuant to the tribal-state gaming compacts and any amendments. The fee may not exceed ten percent of the fantasy sports contest operator's adjusted revenues. A fantasy sports contest operator shall report to the department and pay the fee from its monthly fantasy sports contest adjusted revenues, on a form and in the manner prescribed by the department. This subsection does not apply to an individual who offers a fantasy sports contest under section 5-1202, subsection B.
B. The fee established pursuant to subsection A of this section is due and payable to the department by the twenty-fifth day of each month and shall be based on monthly fantasy sports contest adjusted revenue derived during the previous month.
C. The department shall deposit, pursuant to sections 35-146 and 35-147, the fees collected pursuant to this section in the fantasy sports contest fund established by section 5-1212.
D. A licensed fantasy sports contest operator who fails to remit to the department the fees required under this section is liable, in addition to any sanction or penalty imposed under this chapter, for the payment of a penalty of five percent per month up to a maximum of twenty-five percent of the amounts ultimately found to be due, to be recovered by the department. Penalties imposed and collected by the department under this subsection must be deposited in the fantasy sports contest fund established by section 5-1212.
Sec. 2. Repeal
Section 5-1318, Arizona Revised Statutes, as amended by Laws 2021, chapter 405, section 3, is repealed.
Sec. 3. Section 5-1318, Arizona Revised Statutes, as added by Laws 2021, chapter 234, section 4, is amended to read:
5-1318. Fees; event wagering fund
A. The department shall establish a fee for the privilege of operating event wagering. In determining the fee, the department shall consider the highest percentage of revenue share that an Indian tribe pays to this state pursuant to the tribal-state gaming compact. The fee may not exceed ten percent of the event wagering operator's adjusted gross event wagering receipts. The event wagering operator or designee has the option to choose either the cash accrual or modified accrual basis method of accounting for purposes of calculating the amount of the fee owed by the event wagering operator or designee. The fees required pursuant to this section are due and payable to the department not later than the twenty-fifth day of the month following the calendar month in which the adjusted gross event wagering receipts were received and the obligation was accrued.
B. The event wagering fund is established consisting of monies deposited pursuant to this chapter or from any other source. The department shall administer the fund. Except as otherwise provided in this chapter, the department shall deposit, pursuant to sections 35-146 and 35-147, all monies collected under this chapter in the event wagering fund. On the twenty-fifth of each month, any monies remaining in the event wagering fund shall be transferred to the state general fund. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.
C. Unless otherwise determined by the legislature, the department may spend not more than ten percent of monies on the department's annual costs of regulating and enforcing this chapter, and any remaining monies in the fund revert to the state general fund.
