Louisiana lawmakers have passed a bill raising the state’s online sports betting tax from 15% to 21.5%, with proceeds intended to fund college athletic programs across the state.
House Bill 639, sponsored by Rep. Neil Riser, cleared the Senate on a 35-3 vote on Sunday, after passing the House on a 74-15 vote previously. The new tax increase is expected to generate around $20 million for various athletic programs in Louisiana’s universities.
Rep. Riser’s original bill proposed increasing the tax to 32.5%; however, House representatives opted to vote for a lower increase, capping the new tax rate at 21.5%.
Lawmakers expect the tax hike to generate an additional US$77 million, allocating US$20 million to the new Supporting Programs, Opportunities, Resources, and Teams Fund, which was established by the bill.
