summary
Introduced
03/28/2025
03/28/2025
In Committee
05/02/2025
05/02/2025
Crossed Over
05/12/2025
05/12/2025
Passed
05/12/2025
05/12/2025
Dead
Signed/Enacted/Adopted
05/15/2025
05/15/2025
Introduced Session
2025 Regular Session
Bill Summary
CONCERNING THE DEDUCTION FOR FREE BETS ALLOWED FOR THE PURPOSE OF CALCULATING NET SPORTS BETTING PROCEEDS, AND, IN CONNECTION THEREWITH, MAKING AN APPROPRIATION.
AI Summary
This bill modifies the rules for how sports betting operators can deduct free bets when calculating their net sports betting proceeds. Currently, operators are allowed to deduct a percentage of free bets placed by players, with those percentages changing over time: through June 30, 2025, the deduction percentage is not specified, from July 1, 2025 through December 31, 2025 it will be no more than two percent, and from January 1, 2026 through June 30, 2026 it will be no more than one percent. Starting July 1, 2026, the bill stipulates that sports betting operators will not be allowed to deduct any free bets at all. The bill also includes an appropriation of $17,135 to the Colorado Department of Revenue for the 2025-26 fiscal year, with the funds allocated for tax administration IT system support, personal services in taxation, and administrative support. The act will take effect after the standard 90-day legislative period, with a provision for potential referendum, and if challenged, would require voter approval in the November 2026 general election.
Committee Categories
Budget and Finance
Sponsors (16)
Julie McCluskie (D)*,
Dylan Roberts (D)*,
Matt Soper (R)*,
Judy Amabile (D),
Jennifer Bacon (D),
Andrew Boesenecker (D),
Jeff Bridges (D),
Chad Clifford (D),
Monica Duran (D),
Cathy Kipp (D),
Karen McCormick (D),
Lesley Smith (D),
Marc Snyder (D),
Michael Weissman (D),
Steven Woodrow (D),
Yara Zokaie (D),
Last Action
Governor Signed (on 05/15/2025)
Official Document
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