Assembly Bill No. 610-Assemblyman Price (by request)
June 16, 1997
____________
Referred to Committee on Judiciary
SUMMARY--Provides in skeleton form for royalty on wagering on collegiate sporting events involving collegiate institutions within and outside Nevada. (BDR 41-1216)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State or on Industrial Insurance: No.
EXPLANATION - Matter in italics is new; matter in brackets [ ] is material to be omitted.
AN ACT relating to gaming; providing in skeleton form for a royalty on wagering on collegiate sporting events involving collegiate institutions within and outside of Nevada; creating the endowment fund for higher education; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1 Chapter 463 of NRS is hereby amended by adding thereto the provisions set forth as sections 2 to 13, inclusive, of this act.
Sec. 2 As used in sections 2 to 13, inclusive, of this act, unless the context otherwise requires, the words and terms defined in sections 3 to 9, inclusive, of this act have the meanings ascribed to them in those sections.
Sec. 3 "Board of regents" means the board of regents of the University and Community College System of Nevada.
Sec. 4 "Collegiate institution" means a public or private institution that offers educational services beyond the secondary level. The term includes, but is not limited to:
1. A college or university located in this state or another jurisdiction, including, but not limited to, a university that is part of the University and Community College System of Nevada.
2. A city college, community college or junior college located in this state or another jurisdiction, including, but not limited to, a community college that is part of the University and Community College System of Nevada.
Sec. 5 1. "Collegiate sporting event" means a sporting event that:
(a) Is conducted in this state or another jurisdiction; and
(b) Involves one or more competitors who have been permitted by a collegiate institution or an organization of collegiate institutions to participate in the sporting event as representatives of a collegiate institution.
2. The term includes, but is not limited to, all contests, games, matches, meets and tournaments, regardless of whether they are conducted in the preseason, regular season, postseason or off-season.
Sec. 6 "Competitor" means a student or team that competes in a collegiate sporting event as a representative of a collegiate institution.
Sec. 7 "Consent to wager form" means a form adopted by the commission pursuant to section 10 of this act that is used to indicate that a collegiate institution has consented to wagering on collegiate sporting events that involve one or more competitors from the collegiate institution.
Sec. 8 "Pari-mutuel system of wagering" has the meaning ascribed to it in NRS 464.005.
Sec. 9 "Person licensed to conduct a pari-mutuel system of wagering" means a person who is licensed to conduct a pari-mutuel system of wagering pursuant to chapter 464 of NRS.
Sec. 10 The commission shall adopt regulations for enforcing the provisions of sections 2 to 13, inclusive, of this act. As part of the regulations, the commission shall develop a consent to wager form to be used by a licensed sports pool or a person licensed to conduct a pari-mutuel system of wagering to verify that a collegiate institution has consented to wagering on collegiate sporting events that involve one or more competitors from the collegiate institution.
Sec. 11 1. A licensed sports pool or a person licensed to conduct a pari-mutuel system of wagering may not accept wagers on a collegiate sporting event unless each of the collegiate institutions that has a competitor in the sporting event has filed a consent to wager form with the licensed sports pool or the person licensed to conduct a pari-mutuel system of wagering.
2. A licensed sports pool or a person licensed to conduct a pari-mutuel system of wagering shall not pay or in any way compensate a collegiate institution to obtain a consent to wager form.
Sec. 12 1. In addition to any other license fees and taxes imposed by this chapter or chapter 464 of NRS, if a licensed sports pool or a person licensed to conduct a pari-mutuel system of wagering accepts wagers on a collegiate sporting event, the licensee shall pay to the commission quarterly, on or before the last day of the first month of the following quarter, a royalty of 2 percent on the total amount of money wagered on the collegiate sporting event.
2. The licensee shall include with its payment a statement that:
(a) Lists separately the royalty that is being paid for each collegiate sporting event;
(b) Identifies each collegiate institution that had a competitor in each collegiate sporting event.
3. The commission shall provide the information collected from licensees pursuant to subsection 2 to the board of regents.
Sec. 13 1. The commission shall pay the royalty collected pursuant to section 12 of this act to the state treasurer for deposit in the endowment fund for higher education, which is hereby created in the state treasury as a special revenue fund.
2. The board of regents shall administer the fund.
3. The interest and income earned on the money in the fund, after deducting any applicable charges, must be credited to the fund.
4. Before the end of each quarter, the board of regents shall pay, pursuant to the provisions of this subsection, the money deposited in the fund during the previous quarter. The board of regents shall pay each collegiate institution that had a competitor in a collegiate sporting event an equal share of the royalty that was collected for the collegiate sporting event after a deduction is made by the board of regents for the costs of administering the fund. The deduction must not exceed 5 percent of the royalty that was collected for the collegiate sporting event.
Sec. 14 The amendatory provisions of this act do not apply to wagers on a collegiate sporting event, as defined in section 5 of this act, that are accepted before October 1, 1997.