SB1322: Virginia Gaming Commerce Regulation Act; established, penalties distribution of funds, report.

Legislative Summary

Virginia Gaming Commerce Regulation Act established; penalties. Establishes the Virginia Gaming Commerce Regulation Act for the purpose of providing a regulatory and registration scheme for electronic gaming devices in the Commonwealth. The bill authorizes and specifies the registration requirements for the distribution, operation, hosting, and play of electronic gaming devices, as defined in the bill. The bill imposes a $1,200 monthly tax on each electronic gaming device from each distributor, as defined in the bill, and provides for the use of such tax proceeds after deposit in the Virginia Gaming Commerce Regulation Fund, established in the bill for distribution as follows: (i) 70 percent to the Elementary and Secondary Education Fund, also established in the bill, but only to supplement and not supplant existing funding for public primary and secondary education; (ii) 15 percent to the host locality contingent upon 33 percent of such amount being used for local law enforcement; (iii) five percent for the Virginia Military Survivors and Dependents Education Program and Fund; (iv) three percent to the I-81 Corridor Improvement Fund, (v) three percent to the Gaming Regulatory Fund for administration and oversight costs; (vi) 2.5 percent to the State Police for the Office of Gaming Enforcement; and (vii) 1.5 percent to the Problem Gambling Treatment and Support Fund. The bill directs the Virginia Lottery Board to promulgate regulations no later than June 30, 2026, to implement the provisions of the bill and authorizes the Virginia Alcoholic Beverage Control Authority to grant a provisional registration, until the Virginia Lottery Board regulations are promulgated, to any entity that meets the respective criteria.