SB6004 - Virginia Gaming Commerce Regulation Act; established, penalties, report.

2 Co-Sponsors

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, with most being distributed to the School Construction and Modernization Fund and the Elementary and Secondary Education Fund, which is established in the bill. The bill directs the Virginia Lottery Board to promulgate regulations no later than June 30, 2025, 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.