Iowa State Senator Danielson has again introduced an online poker bill. The bill is Senate Study Bill 1068 and Danielson introduced the bill on January 23, 2013.
Link to bill
Link to track lobbyist declarations (Caesar's, Boyd, and Penn are prominent gaming companies with Iowa casino ties)
Highlights
--Bill makes the racing and gaming commission set rules, issue licenses, etc
--Poker only
--Wagers can be placed from any location in Iowa "...or from any location where authorized by law, subject to any requirements adopted by the commission."
--Taxes will be same as current casino taxes. 22% or 24% on amounts over $3m. The tax rate depends on if you're a gambling boat or race track. Taxes will be calculated on rake collected minus any player incentives e.g. rakeback or comps.
--21 years old to play (same IRL)
--Money must be handled separately from other casino operations
--Allows for service provides (outsource software)
--Service providers will undergo comprehensive investigation regarding past acceptance or assistance of internet wagering.
"The commission shall not issue a license to an internet wagering service provider if the commission determines that the service provider has accepted or assisted in the acceptance of any wagers or other consideration related to internet wagering in violation of the laws of any jurisdiction where the service provider operated."
--Players can set a 24-hour max money limit
--Players can voluntarily exclude themselves for life. Any winnings made after voluntary lifetime exclusion would not be paid to the player, but forfeited to the state general fund.
Cliffs: Bill authorizes poker. Wagers from other jurisdictions where authorized by law. Online poker providers who previously operated might not get licensed. Bill doesn't do a whole lot as far as regulation. Regulation would be done by the Iowa Racing and Gaming Commission.
Last edited by LT22; 01-26-2013 at 11:59 PM.