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The House Committee on Financial Services has announced that a markup of Barney Frank’s bill to license and regulate egaming in the US will take place next Tuesday 27 July.
Michael Waxman, spokesperson for lobby group the Safe and Secure Internet Gambling Initiative, said: “This mark up demonstrates that Congress is serious about moving Chairman Frank’s bill forward and establishing a strict regulatory framework for Internet gambling activity.”
Markup by the subcommittee, involving changes and amendments to the bill following the hearings, precedes the full committee voting on whether to report the bill to the House of Representatives for consideration. If HR 2267 is not acted on by the end of 2010, it will need to be reintroduced in the new Congress in January next year.
A recent study by gambling data business H2 Gambling Capital has projected that gaming regulation in the US would create close to 32,000 jobs and up to US$57.5bn in tax revenue over five years.
The House Committee on Ways and Means in May held a hearing for Republican Congressman Jim McDermott’s companion piece of legislation to Frank’s bill, the Internet Gambling Regulation and Tax Enforcement Act of 2010 (HR 4976). McDermott’s bill would compel licensed operators to pay a 6% deposit fee to state governments, and designate 25% of federal revenue raised from regulated egaming to foster care programmes.
http://www.egrmagazine.com/news/578117/markup-of-barney-franks-bill-to-take-place-next-tuesday.thtml
Michael Waxman, spokesperson for lobby group the Safe and Secure Internet Gambling Initiative, said: “This mark up demonstrates that Congress is serious about moving Chairman Frank’s bill forward and establishing a strict regulatory framework for Internet gambling activity.”
Markup by the subcommittee, involving changes and amendments to the bill following the hearings, precedes the full committee voting on whether to report the bill to the House of Representatives for consideration. If HR 2267 is not acted on by the end of 2010, it will need to be reintroduced in the new Congress in January next year.
A recent study by gambling data business H2 Gambling Capital has projected that gaming regulation in the US would create close to 32,000 jobs and up to US$57.5bn in tax revenue over five years.
The House Committee on Ways and Means in May held a hearing for Republican Congressman Jim McDermott’s companion piece of legislation to Frank’s bill, the Internet Gambling Regulation and Tax Enforcement Act of 2010 (HR 4976). McDermott’s bill would compel licensed operators to pay a 6% deposit fee to state governments, and designate 25% of federal revenue raised from regulated egaming to foster care programmes.
http://www.egrmagazine.com/news/578117/markup-of-barney-franks-bill-to-take-place-next-tuesday.thtml
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Vixen.
go Barney go Barney
