25RS HB 742

House Bill 742

Actions

Last Action	02/19/25: to Committee on Committees (H)
Title	AN ACT relating to fantasy contests.
Bill Documents	Introduced
Fiscal Impact Statement	Corrections Impact
Bill Request Number	1220
Sponsor	M. Meredith
Summary of Original Version	Create new sections of KRS Chapter 230 to authorize the corporation to regulate the conduct of fantasy contest operators; require the use of geolocation technology; require fantasy contest operators to implement procedures to prevent fraud, abuse, and money laundering; require notification to the corporation for a confirmed breach of a sport's governing body's internal rules and codes of conduct, conduct that corrupts any outcome, and confirmed illegal activities; establish licensing requirements for a fantasy contest operator; allow the corporation to promulgate administrative regulations to establish additional qualifications and requirements for licensing to preserve the integrity and security of fantasy contests; prohibit a license from being issued to a person that has been convicted of a felony, crime involving illegal gaming or gambling, or any crime involving theft or fraud; require a fantasy contest operator to conduct an independent audit; require a fantasy contest operator to be at least 18 years old; require the corporation to investigate all reasonable allegations of prohibited conduct; require each fantasy contest operator to include a statement regarding obtaining assistance with real-money gaming problems on the operator's website or mobile application; prohibit a fantasy contest operator from paying any price or award to a person who is on the self-exclusion list; create a new section of KRS Chapter 230 to establish the fantasy contest administration fund from fantasy contest taxes and fees; create a new section of KRS Chapter 138 to define "adjusted gross fantasy contest receipts" and impose a tax on fantasy contests; amend KRS 243.500, 525.090, 528.010, 528.070 to exempt fantasy contests; amend KRS 68.182, 91.202, 92.282, 230.215, 230.225, 230.232, 230.260 to conform; provide that the Act may be cited as the Fantasy Sports Consumer Protection Act; EFFECTIVE July 1, 2025.
Index Headings of Original Version	Licensing - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation Racing - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation State Agencies - Kentucky Horse Racing and Gaming Corporation, fantasy contests, regulation Taxation - Fantasy contests, monthly taxes Administrative Regulations and Proceedings - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation Amusements and Recreation - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation Short Titles and Popular Names - Fantasy Sports Consumer Protection Act Horses and Horse Racing - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation Corrections Impact - Fantasy Sports Consumer Protection Act Effective Dates, Delayed - Fantasy contests, regulation, July 1, 2025 Gambling - Fantasy contests, regulation, Kentucky Horse Racing and Gaming Corporation