Louisiana 2020 1st Special Session

Louisiana Senate Bill SB5

Introduced
6/1/20  
Introduced
6/1/20  
Refer
6/1/20  
Refer
6/11/20  
Report Pass
6/15/20  
Report Pass
6/15/20  
Engrossed
6/18/20  
Engrossed
6/18/20  
Report Pass
6/22/20  
Report Pass
6/22/20  
Enrolled
6/25/20  
Enrolled
6/25/20  
Chaptered
7/13/20  
Chaptered
7/13/20  
Passed
7/13/20  

Caption

Provides relative to promotional play wagers. (Item #36) (gov sig) (EN -$11,200,000 RV See Note)

Impact

Should SB 5 be enacted, it would modify several definitions under Louisiana law related to gaming. The bill's provisions specifically clarify how promotional play wagers are treated within the gaming revenue calculations, thereby establishing a more consistent approach to fiscal reporting for gaming operators. By excluding these promotional wagers from gross revenue calculations, the bill may have significant implications on how operators report earnings and pay taxes, potentially leading to an increase in reported revenues and adjustments in tax structuring related to gaming profits.

Summary

Senate Bill 5, introduced by Senator Johns during the 2020 First Extraordinary Session, amends existing laws regarding the calculation of net gaming proceeds in Louisiana's gaming sector. The primary focus of the bill is to exclude 'promotional play wagers' from the total of cash and property counted towards net gaming proceeds. This change is aimed at providing a clearer framework for calculating actual revenues generated from gaming operations while accounting for various promotional strategies used by casinos and riverboat gaming operators.

Sentiment

The sentiment around SB 5 appears to be largely positive among gaming operators who support the clarity it brings to revenue calculations. They believe that the legislation may enhance their ability to manage promotional strategies effectively without facing punitive financial impacts. On the other hand, concerns were raised regarding whether such exclusions might lead to reduced transparency in the total revenues generated by gaming companies, prompting discussions among some oversight groups about the importance of maintaining strict accountability in gaming revenues.

Contention

One of the notable points of contention regarding SB 5 is the ongoing debate about the balance between promoting business interests and ensuring thorough oversight of gaming revenues. Critics may argue that while the bill could benefit gaming operators by enhancing their fiscal position, it risks diluting the integrity of revenue reporting in the gaming industry. Additionally, advocates for consumer protection and transparency express concern that the legislature should closely monitor the long-term effects of such legislative changes on both state revenue and consumer trust in gambling practices.

Companion Bills

No companion bills found.

Previously Filed As

LA SB516

Provides for promotional play wagers. (gov sig) (EG -$29,300,000 RV See Note)

LA SB320

Provides for a deduction of fees attributable to qualified wagers. (8/1/18) (EG SEE FISC NOTE GF RV)

LA SB782

Provides for a promotional expense deduction under certain conditions. (8/15/10) (EG DECREASE GF RV See Note)

LA HB542

Provides for the allowable amount of promotional play offered by certain gaming operators and for deductions regarding promotional play (EG1 -$974,000 GF RV See Note)

LA SB323

Provides for the deduction of fees attributable to qualified wagers from net gaming proceeds. (8/1/18) (OR SEE FISC NOTE GF RV See Note)

LA SB153

Provides relative to sports wagering. (See Act) (RE1 +$1,225,000 SD EX See Note)

LA SB247

Provides relative to the regulation of sports wagering. (See Act) (EN INCREASE GF EX See Note)

LA HB697

Provides for sports wagering (EN INCREASE SD RV See Note)

LA SCR64

Suspends franchise fees and compensation on promotional play wagers. (OR -$29,300,000 RV See Note)

LA HB415

Authorizes enhanced promotional play allowances for gaming operators that make certain capital investments (EG -$50,600,000 GF RV See Note)

Similar Bills

No similar bills found.