SB1250: Video gaming terminals; penalties.

Legislative Summary

Regulating video gaming terminals; Virginia Video Gaming Terminal Education Support Fund established; penalties. Authorizes and specifies the licensing requirements for the manufacture, distribution, operation, servicing, hosting, and playing of video gaming terminals (VGTs). The bill provides that VGTs are regulated by the Virginia Lottery Board, which the bill renames as the Virginia Lottery and Gaming Oversight Board. The bill requires employees of such licensees to be registered with the Virginia Lottery, which the bill renames as the Virginia Lottery and Gaming Department. The bill imposes criminal and civil penalties for violations of the law and regulations related to VGTs. The bill imposes a 34 percent tax on all gross profits from the play of VGTs and provides for how the tax proceeds are used; most are deposited into the Virginia Video Gaming Terminal Education Support Fund, created by the bill.