In the state legislature, HB639 (Riser) is set to increase the taxes on sports betting to match that of video poker.
The bill creates a dedicated fund called the Supporting Programs, Opportunities, Resources, & Teams (SPORT Fund) where 25% of the revenue will go to "Monies in the fund shall be appropriated to the Board of Regents for distribution to athletic departments at public universities that are members of conferences that compete in NCAA Division One athletics at the Football Bowl Subdivision and Football Championship Subdivision levels in Louisiana for the benefit of student athletes."
The Board of Regents shall distribute funds received pursuant to the provisions of this Section equally among eligible institutions. Each eligible university athletic department shall receive an equal distribution of funds for use in accordance with the provisions of this Section.
If it passes, the fiscal note shows that this fund would be around $31.5 million annually. By my count that would be 11 schools dividing it up coming out to around $2.8 million per school each year.
Just wondering if this was on anyone's radar?
The bill creates a dedicated fund called the Supporting Programs, Opportunities, Resources, & Teams (SPORT Fund) where 25% of the revenue will go to "Monies in the fund shall be appropriated to the Board of Regents for distribution to athletic departments at public universities that are members of conferences that compete in NCAA Division One athletics at the Football Bowl Subdivision and Football Championship Subdivision levels in Louisiana for the benefit of student athletes."
The Board of Regents shall distribute funds received pursuant to the provisions of this Section equally among eligible institutions. Each eligible university athletic department shall receive an equal distribution of funds for use in accordance with the provisions of this Section.
If it passes, the fiscal note shows that this fund would be around $31.5 million annually. By my count that would be 11 schools dividing it up coming out to around $2.8 million per school each year.
Just wondering if this was on anyone's radar?
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