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HB20-1286

Sunset Regulation Of Fantasy Sports

Concerning the continuation of the regulation of fantasy contest operators, and, in connection therewith, implementing recommendations contained in the 2019 sunset report by the department of regulatory agencies, and, in connection therewith, reducing an appropriation.
Session:
2020 Regular Session
Subjects:
Business & Economic Development
Gaming, Lottery, & Racing
Professions & Occupations
Bill Summary

Sunset Process - House Business Affairs and Labor Committee. The bill implements the recommendations of the department of regulatory agencies' sunset review and report of the "Fantasy Contests Act" by:

  • Extending the repeal date of the regulatory provisions until September 1, 2027 ( sections 1 and 2 of the bill);
  • Transferring regulatory authority over fantasy contest operators from the director of the division of professions and occupations in the department of regulatory agencies to the director of the division of gaming in the department of revenue ( sections 2 through 12 ); and
  • Requiring small fantasy contest operators (i.e., those with 7,500 or fewer active customer accounts in Colorado) to undergo annual audits by an independent third party and submit the results to the department of revenue, as larger operators are currently required to do ( section 2 ).
    (Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. A. Garnett, Rep. D. Williams
Sen. T. Story

Sponsor

Rep. T. Kraft-Tharp, Rep. H. McKean, Rep. M. Snyder

Co-sponsor

Upcoming Schedule