House Bill 639 has been approved by the House Appropriations Committee.
US.- Following a failed attempt in 2024, Louisiana lawmakers are trying again to raise the tax rate on online sports betting. House Bill 639, introduced by representative Neil Riser, would amend the Louisiana Revised Statutes to increase the state’s online sports wagering tax from 15 to 32.5 per cent. The measure has been approved with a 20-1 vote by the House Appropriations Committee.
The change would align the state’s online sports betting tax rate with that applied to retail video draw poker devices. The proposal aims to increase benefits for athletic departments at public universities across the state.
HB 639 would establish a Supporting Programs, Opportunities, Resources, and Teams Fund (Sport Fund). This would receive 25 per cent of tax revenue from sports betting to support student-athletes at public NCAA Division I programs in the state. Institutions receiving a portion of the proceeds would include LSU, Louisiana Tech, McNeese State, Louisiana Lafayette, Grambling and Nicholls State. It will be administered by the Louisiana Board of Regents.
The bill also includes allocations to other state priorities, including the Louisiana Early Childhood Education Fund. The Louisiana Legislative Fiscal Office has projected that the proposed tax rise could raise annual state revenue from sports betting from $59.3m to approximately $190.1m.
https://focusgn.com/louisiana-proposes-doubling-online-sports-betting-tax-rate