|Posted:||March 30, 2020 09:45 AM|
|From:||Senator Doug Mastriano|
|To:||All Senate members|
|Subject:||Temporary Suspension of 60/40 Regulation for Small Games of Chance.|
|As a result of the ongoing COVID-19 pandemic, in the near future, I intend to introduce the following legislation and I invite you to join me as a co-sponsor:
Temporary Suspension of 60/40 Regulation for Small Games of Chance.
Non-profit clubs, such as our local veterans' and charitable organizations, are pillars in our communities.
Unfortunately, the impact of the coronavirus has resulted in mandatory closures for these important clubs, which will undoubtedly impact their charitable work.
Without any income, many clubs are concerned about being able to pay their bills.
Currently, there is no timetable for when these clubs may be allowed to reopen.
My proposal will help the state’s non-profit clubs combat the financial difficulties of the COVID-19 pandemic, and temporarily suspend the 60/40 requirement of the Small Games of Chance code.
The suspension would go into effect once the “life-sustaining business” restrictions are lifted, and clubs are allowed to resume operations.
My proposal will suspend the 60/40 protocol for 90 days, to help clubs regain their financial footing.
Once the 90-day period sunsets, the 60/40 rule would go back into effect.
During the suspension of the 60/40 protocol, clubs would be able to utilize 100 percent of their Small Games of Chance intake to underwrite operating expenses.
As part of existing law, clubs are required to document their Small Games of Chance proceeds; that requirement would not change, and clubs would still be required to maintain those records.
It is my hope that this important piece of legislation enables clubs to overcome the financial difficulties of the COVID-19 pandemic.
There is no doubt in my mind that once clubs have regained their financial footing, they will continue their charitable endeavors in our communities.
Please consider co-sponsoring this important piece of legislation. If you have any thoughts, questions or concerns, please contact Scot Pitzer in my office at email@example.com.
Introduced as SB1143