New York Budget Proposal Includes Online Poker
Like Pennsylvania, New York Could OK I-Poker Through Budget Deal
Ongoing budget talks in the Empire State include online poker as a possible tax revenue stream, which could provide a route for an online poker bill on the table to become law.
An outline of the budget proposal, Senate Resolution No. R4330, lists online poker as one of many possible ways to help form a spending plan worth roughly $150 billion. The inclusion of Internet poker in the budget proposal was first reported by OnlinePokerReport.
The online poker bill cleared the Senate’s Racing, Gaming and Wagering Committee last month, but hasn’t had any action since. The legislation is with the Senate’s Finance Committee for further consideration. The New York Senate first indicated it was open to online poker regulation as part of a budget plan in 2013, but it didn’t end up being included.
The New York online poker market could be worth more than $120 million in the first 12 months after launch, according to industry estimates. A tax rate of 15 percent has been proposed, in addition to initial licensing fees paid to the state.
In neighboring Pennsylvania, online casino games are being seriously considered as part of the Keystone State’s long-overdue budget deal. The author of the Pennsylvania online poker bill told Card Player last year that the proposal was put on hold until this spring.
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