A bill for an act relating to event-driven contracts traded on dedicated contract markets by requiring a permit to conduct business in the state, imposing a tax on adjusted revenues or amounts traded, making adjustments to individual and corporate income taxes, providing for fees, and including contingent effective date, applicability, and retroactive applicability provisions.

Summary

The bill would make any digital marketplace that trades binary, event‑driven contracts (like sports, lottery, election or economic‑indicator bets) obtain a state permit and pay a 20% tax on its adjusted revenues or on each contract purchase. It also changes how individual and corporate income taxes treat gains and losses from these contracts and directs all revenues to the state general fund. The measure failed to pass.

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