Nebraska State Senator Eliot Bostar Intrudoces Online Sports Betting Bill
Nebraska State Senator Eliot Bostar has introduced LB 13, an online sports betting bill, during a special legislative session focused on tax reform.
Key Provisions of the Bill
The proposed legislation aims to legalize online sports wagering under the Nebraska Racetrack Gaming Act, altering the distribution of tax revenues from sports betting and amending requirements for constitutional amendment proposals by the Legislature.
LB 13 proposes several changes to the current sports betting landscape in Nebraska. Before all, the bill seeks to authorize an online sports wagering platform but also to Repeal of In-State College Sports Betting Ban.
The current prohibition on betting on in-state college sports teams would be lifted. However, restrictions would remain on player prop bets involving Nebraska college athletes and in-game bets on Nebraska college teams. Additionally, betting on the performance of any athlete under 18 years of age would be prohibited.
Support from the Governor
Governor Jim Pillen has expressed strong support for the bill, emphasizing the reality of online sports betting in Nebraska and the missed revenue opportunities.
At a recent press conference, he stated, “Online sports betting is real, and it’s happening in the state. Whoever wants to do it is doing it, and we’re giving all the revenue to our neighbors.”
A primary goal of the bill is to provide property tax relief. The proposed legislation specifies that 90% of the tax revenue generated from sports wagering would be allocated to the Property Tax Credit Cash Fund, directly supporting property tax relief initiatives.
In conjunction with LB 13, Sen. Carol Blood has introduced LB 6, a bill to legalize fantasy sports through the Fantasy Contests Act.
This bill would allow for paid-entry fantasy contests statewide, including peer-to-peer and against-the-house contests. Operators would pay an initial registration fee of $10,000 and an annual renewal fee of 6% of their gross gaming revenue from the previous 12 months.
Legislative Findings and Constitutional Amendment
The bill outlines the Legislature’s findings regarding Nebraska’s reliance on local property taxes to support public education and its high per capita property tax burden.
It argues for authorizing and taxing gross gaming revenue from online sports wagering to create a property tax relief program aimed at reducing this burden.
The bill also calls for a constitutional amendment vote on the November ballot to approve the changes.
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