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House Study Bill 228 - IntroducedA Bill ForAn Act 1relating to advance deposit sports wagering licensees.
2BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 99F.6, Code 2023, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 3A. Before a license is granted to conduct
4advance deposit sports wagering as defined in section 99F.9,
5the commission shall conduct a comprehensive investigation of
6each applicant to determine whether the applicant or any of its
7affiliates, including entities under common control, is doing
8any of the following:
9a. Knowingly accepting revenue, directly or indirectly,
10derived from any jurisdiction sanctioned by the office of
11foreign assets control of the United States treasury.
12b. Accepting or assisting, directly or indirectly, in the
13acceptance of online wagers or consideration related to online
14wagering from any country in which such online gambling is
15prohibited or illegal.
16 Sec. 2. Section 99F.7, subsection 8, Code 2023, is amended
17by adding the following new paragraph:
18 NEW PARAGRAPH. h. The applicant for a license to conduct
19advance deposit sports wagering is determined to be doing any
20of the activities listed in section 99F.6, subsection 3A.
21 Sec. 3. Section 99F.7, subsection 16, Code 2023, is amended
22to read as follows:
2316. Upon a violation of any of the conditions listed in
24this section or a determination that an advance deposit sports
25wagering licensee is doing any of the activities listed in
26section 99F.6, subsection 3A, the commission shall immediately
27revoke the license.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill imposes certain requirements relating to the
32issuance and possible revocation of an advance sports wagering
33license under Code chapter 99F.
34The bill requires the racing and gaming commission to
35conduct a comprehensive investigation of each applicant for a
-1-1license to conduct advance deposit sports wagering to determine
2whether the applicant is knowingly accepting revenue derived
3from any jurisdiction sanctioned by the office of foreign
4assets control of the United States treasury or is accepting or
5assisting in the acceptance of online wagers or consideration
6related to online wagering from any country in which such
7online gambling is prohibited or illegal. The bill provides
8that if the commission has substantial evidence that an
9applicant to conduct advance deposit sports wagering is doing
10any of the activities described in the bill, the commission
11shall not grant the applicant a license. In addition, the bill
12provides that if the commission determines that a licensee to
13conduct advance deposit sports wagering is doing any of the
14activities described in the bill, the commission shall revoke
15the license.
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2BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 99F.6, Code 2023, is amended by adding
2the following new subsection:
3 NEW SUBSECTION. 3A. Before a license is granted to conduct
4advance deposit sports wagering as defined in section 99F.9,
5the commission shall conduct a comprehensive investigation of
6each applicant to determine whether the applicant or any of its
7affiliates, including entities under common control, is doing
8any of the following:
9a. Knowingly accepting revenue, directly or indirectly,
10derived from any jurisdiction sanctioned by the office of
11foreign assets control of the United States treasury.
12b. Accepting or assisting, directly or indirectly, in the
13acceptance of online wagers or consideration related to online
14wagering from any country in which such online gambling is
15prohibited or illegal.
16 Sec. 2. Section 99F.7, subsection 8, Code 2023, is amended
17by adding the following new paragraph:
18 NEW PARAGRAPH. h. The applicant for a license to conduct
19advance deposit sports wagering is determined to be doing any
20of the activities listed in section 99F.6, subsection 3A.
21 Sec. 3. Section 99F.7, subsection 16, Code 2023, is amended
22to read as follows:
2316. Upon a violation of any of the conditions listed in
24this section or a determination that an advance deposit sports
25wagering licensee is doing any of the activities listed in
26section 99F.6, subsection 3A, the commission shall immediately
27revoke the license.
28EXPLANATION
29The inclusion of this explanation does not constitute agreement with
30the explanation’s substance by the members of the general assembly.
31This bill imposes certain requirements relating to the
32issuance and possible revocation of an advance sports wagering
33license under Code chapter 99F.
34The bill requires the racing and gaming commission to
35conduct a comprehensive investigation of each applicant for a
-1-1license to conduct advance deposit sports wagering to determine
2whether the applicant is knowingly accepting revenue derived
3from any jurisdiction sanctioned by the office of foreign
4assets control of the United States treasury or is accepting or
5assisting in the acceptance of online wagers or consideration
6related to online wagering from any country in which such
7online gambling is prohibited or illegal. The bill provides
8that if the commission has substantial evidence that an
9applicant to conduct advance deposit sports wagering is doing
10any of the activities described in the bill, the commission
11shall not grant the applicant a license. In addition, the bill
12provides that if the commission determines that a licensee to
13conduct advance deposit sports wagering is doing any of the
14activities described in the bill, the commission shall revoke
15the license.
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