Monday April 22, 2013 : PENNSYLVANIA AND ONLINE GAMBLING LATEST (Update)
Davis bill introduced at last
The much anticipated Pennsylvania online gambling legalization bill HB1235 authored by Rep. Tina Davis has been launched in the State's House at last, albeit substantially edited.
If the Davis proposal makes it through the Pennsylvania Legislature and the governor's desk, the Pennsylvania Gaming Control Board will be responsible for regulations and licensing.
Davis's originally expensive licensing and taxation proposals have been substantially watered down according to media reports, which suggest that the bill now requires a licensing fee of $5 million (way down from the original $16.5 million) and a still-heavy tax rate of 28 percent (down from the original 45 percent).
Tax revenues gleaned from online gambling taxation will be dedicated to property relief and the Pennsylvania State Lottery.
Selling the bill to other legislators, Davis predicts that it will create jobs, generate generous tax revenues and keep the state competitive in the face of online challenges from neighbouring states like Delaware and New Jersey.