The fantasy sports tax and regulation bill is halfway through final passage. It's been approved by the House and will soon go in front of a Senate hearing committee.
The way it stands now, the tax rate for fantasy sports is currently at 15 percent. Fairness for Fantasy Sports spokesman Ryan Berni says it would be the highest in the nation.
“Fan Duel and Draft Kings and other independent operators would pay that on net revenue so what people put up for contests, minus winnings,” Berni said.
But the opposition to the legislation is arguing that it's a lower rate than what other gaming activities in the state must pay. Gaming interest groups says fantasy sports should only be accessible from within a casino, or a video poker facility. Berni says they've been able to hold those interests at bay.
“Given the way video poker interests have been playing this so far, I think there is a concern that there will be an attempt to amend it further in the Senate, which would be an attempt to effectively kill fantasy sports,” said Berni.
Over 60-percent of voters, and 47 parishes approved the activity last fall, and Berni says it would be a shame to see the will of those voters overturned by gaming lobbyists.
“New revenue for early childhood education, local governments would get a piece of it, so there would be a win-win everyone here, special interests who seek to block it, can’t let them win right here,” said Berni.
The legislative session ends June 6th.