Bill SF1984 To Be Discussed By Minnesota Senate Tax Committee

Bill SF1984 To Be Discussed By Minnesota Senate Tax Committee

A new bill, SF1984, is going to be discussed by the Minnesota’s Senate Tax Committee. This bill proposes to legalize mobile, in-person and online sports betting in the state.

This bill is sponsored by cross-party group of senators. It will authorize and establish the Minnesota Sports Wagering Commission to regulate the market. People over 18 will place bets on collegiate and professional sporting events and wagering on virtual events will not be allowed. Responsibility for awarding licenses will be taken by the new Commission and operators will be tazxed at 6.75% on their wagering revenue.

The cost of the sports betting license under the new regulations are not yet known. The bill does refer to a fee but the exact figure has not been mentioned.

The bill allows operators to enter third party agreements to offer these services. These licences will allow operators to conduct betting at racetracks and in tribal land in addition to website and mobile apps.

It is not yet known where exactly consumers will have to be located at the facility so that they can place an online or mobile wager.

The Senate Tax Committee of Minnesota will debate the SF1984 hearing on March 7. If this bill is approved then it will become effective from September 1, 2020.

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