If the Senate's efforts pay off, casinos may be coming to Virginia soon. Legislation introduced by Senator Louise Lucas that could open the door for casino gambling has passed the Senate this week and will now be considered by the House of Delegates.
- Va Casino Gambling Bill
- News About Casino In Virginia
- Virginia Casino Legislation News
- Casino Gambling In Va
SB 1126 (Lucas) authorizes five localities – Bristol, Danville, Portsmouth, Norfolk, and Richmond – to hold a referendum on the question of allowing casino gaming in their cities. Each locality may hold such a referendum in the Fall of 2019, and the Commonwealth may in turn grant a license beginning July 1, 2020.
The casino gambling bill permits the construction of casinos in Richmond, Danville, Norfolk, Bristol and Portsmouth if a referendum passes in the locality on the 2020 general ballot. The Virginia House of Delegates advanced a bill on Tuesday that would give the state Lottery Board the power to manage casino gaming in the Commonwealth. House Bill 4 states that the lottery board. Authorizes casino gaming in the Commonwealth to be regulated by the Virginia Lottery Board (the Board). Casino gaming shall be limited to certain cities that meet the criteria that is outlined in the bill, and a referendum must be passed in the city on the question of allowing casino gaming in the city. Law360 (February 13, 2020, 8:24 PM EST) - The Virginia Senate and House have approved bills that would legalize commercial gambling in five cities if voter referendums favor it, bringing a. Two weeks ago, Virginia lawmakers approved legislation to allow developers to build five large casino resorts around the state in what supporters have long hoped will be a dramatic economic boost.
SB 1126 also directs the Joint Legislative Audit and Review Commission (JLARC) to conduct a review of casino gaming laws in other states and report its findings to the Chairs of the Senate General Laws and Technology Committee and the House General Laws Committee on or before November 1, 2019. None of the eligible localities may hold a referendum on gaming until this report is published. Additionally, no locality may hold such a referendum after January 21, 2021.
SB 1126 only passed the Senate floor after extensive amendments were made, most notably related to taxes on adjusted gross receipts and stipulations on how those tax proceeds would be spent. While the original legislation called for a 10 percent tax on adjusted gross receipts, the amended version that passed the Senate called for a rate of 14 percent in the first year, and then each year thereafter, the rate would be 13 percent for a licensed operator with less than $200 million annual adjusted gross receipts; 14 percent for a licensed operator with at least $200 million but less than $300 million annual adjusted gross receipts; and 15 percent for a licensed operator with at least $300 million annual adjusted gross receipts.
Va Casino Gambling Bill
Proceeds from this tax would be used to fund several things, including transportation projects, school construction, teacher pay raises, and tourism marketing. Notably, 10 percent of the revenue shall be returned to the county or city in which they were collected on a pro rata basis.
SB 1126 passed the Senate by a vote of 28-12 and has now been referred to the House Rules Committee.
VACo Contact:Chris McDonald, Esq.
News About Casino In Virginia
If the Senate's efforts pay off, casinos may be coming to Virginia soon. Legislation introduced by Senator Louise Lucas that could open the door for casino gambling has passed the Senate this week and will now be considered by the House of Delegates.
Virginia Casino Legislation News
SB 1126 (Lucas) authorizes five localities – Bristol, Danville, Portsmouth, Norfolk, and Richmond – to hold a referendum on the question of allowing casino gaming in their cities. Each locality may hold such a referendum in the Fall of 2019, and the Commonwealth may in turn grant a license beginning July 1, 2020.
SB 1126 also directs the Joint Legislative Audit and Review Commission (JLARC) to conduct a review of casino gaming laws in other states and report its findings to the Chairs of the Senate General Laws and Technology Committee and the House General Laws Committee on or before November 1, 2019. None of the eligible localities may hold a referendum on gaming until this report is published. Additionally, no locality may hold such a referendum after January 21, 2021.
SB 1126 only passed the Senate floor after extensive amendments were made, most notably related to taxes on adjusted gross receipts and stipulations on how those tax proceeds would be spent. While the original legislation called for a 10 percent tax on adjusted gross receipts, the amended version that passed the Senate called for a rate of 14 percent in the first year, and then each year thereafter, the rate would be 13 percent for a licensed operator with less than $200 million annual adjusted gross receipts; 14 percent for a licensed operator with at least $200 million but less than $300 million annual adjusted gross receipts; and 15 percent for a licensed operator with at least $300 million annual adjusted gross receipts.
SB 1126 also directs the Joint Legislative Audit and Review Commission (JLARC) to conduct a review of casino gaming laws in other states and report its findings to the Chairs of the Senate General Laws and Technology Committee and the House General Laws Committee on or before November 1, 2019. None of the eligible localities may hold a referendum on gaming until this report is published. Additionally, no locality may hold such a referendum after January 21, 2021.
SB 1126 only passed the Senate floor after extensive amendments were made, most notably related to taxes on adjusted gross receipts and stipulations on how those tax proceeds would be spent. While the original legislation called for a 10 percent tax on adjusted gross receipts, the amended version that passed the Senate called for a rate of 14 percent in the first year, and then each year thereafter, the rate would be 13 percent for a licensed operator with less than $200 million annual adjusted gross receipts; 14 percent for a licensed operator with at least $200 million but less than $300 million annual adjusted gross receipts; and 15 percent for a licensed operator with at least $300 million annual adjusted gross receipts.
Va Casino Gambling Bill
Proceeds from this tax would be used to fund several things, including transportation projects, school construction, teacher pay raises, and tourism marketing. Notably, 10 percent of the revenue shall be returned to the county or city in which they were collected on a pro rata basis.
SB 1126 passed the Senate by a vote of 28-12 and has now been referred to the House Rules Committee.
VACo Contact:Chris McDonald, Esq.
News About Casino In Virginia
If the Senate's efforts pay off, casinos may be coming to Virginia soon. Legislation introduced by Senator Louise Lucas that could open the door for casino gambling has passed the Senate this week and will now be considered by the House of Delegates.
Virginia Casino Legislation News
SB 1126 (Lucas) authorizes five localities – Bristol, Danville, Portsmouth, Norfolk, and Richmond – to hold a referendum on the question of allowing casino gaming in their cities. Each locality may hold such a referendum in the Fall of 2019, and the Commonwealth may in turn grant a license beginning July 1, 2020.
SB 1126 also directs the Joint Legislative Audit and Review Commission (JLARC) to conduct a review of casino gaming laws in other states and report its findings to the Chairs of the Senate General Laws and Technology Committee and the House General Laws Committee on or before November 1, 2019. None of the eligible localities may hold a referendum on gaming until this report is published. Additionally, no locality may hold such a referendum after January 21, 2021.
SB 1126 only passed the Senate floor after extensive amendments were made, most notably related to taxes on adjusted gross receipts and stipulations on how those tax proceeds would be spent. While the original legislation called for a 10 percent tax on adjusted gross receipts, the amended version that passed the Senate called for a rate of 14 percent in the first year, and then each year thereafter, the rate would be 13 percent for a licensed operator with less than $200 million annual adjusted gross receipts; 14 percent for a licensed operator with at least $200 million but less than $300 million annual adjusted gross receipts; and 15 percent for a licensed operator with at least $300 million annual adjusted gross receipts.
Proceeds from this tax would be used to fund several things, including transportation projects, school construction, teacher pay raises, and tourism marketing. Notably, 10 percent of the revenue shall be returned to the county or city in which they were collected on a pro rata basis.
SB 1126 passed the Senate by a vote of 28-12 and has now been referred to the House Rules Committee.
Casino Gambling In Va
VACo Contact:Chris McDonald, Esq.
