SUMMARY--Revises fee for promotion of amateur boxing contests or exhibitions. (BDR 41-1506)
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 unarmed combat; requiring a promoter of a live professional wrestling contest, match or exhibition to pay a fee for the promotion of amateur boxing contests or exhibitions; increasing, under certain circumstances, the fee required to be paid by a promoter of a live professional boxing contest, match or exhibition for the same purpose; 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 NRS 467.108 is hereby amended to read as follows:
467.108 1. [In] Except as otherwise provided in subsection 2, in addition to the payment of any other fees or taxes required by this chapter, a promoter shall pay to the commission a fee of [$0.50] $1 for each ticket sold for admission to a live professional boxing or wrestling contest, match or exhibition which is held in this state.
2. In lieu of the fee imposed pursuant to subsection 1, the executive director of the commission may require a promoter to pay to the commission a fee of $0.50 for each ticket sold for admission to a live professional boxing or wrestling contest, match or exhibition which is held in this state if the gross receipts from admission fees to the contest, match or exhibition are less than $500,000.
3. The money collected pursuant to [subsection 1] subsections 1 and 2 must be used by the commission to award grants to organizations which promote amateur boxing contests or exhibitions in this state.
[3.] 4. The commission shall adopt by regulation the manner in which:
(a) The fees required by [subsection 1] subsections 1 and 2 must be paid.
(b) Applications for grants may be submitted to the commission and the standards to be used to award grants to organizations which promote amateur boxing contests or exhibitions in this state.
Sec. 2 This act becomes effective upon passage and approval.