What’s happening? North Carolina is considering a sports betting bill SB 688 (2021 | NC). The bill will expand sports betting beyond the 2 tribal casinos and into online sports betting. NC Education Lottery Commission would run the show. At least 10 online sports wagering licenses would be available, but no more than 12. 8% tax on sports betting revenue. $500,000 license fee.
Why is this important? Many states are grappling with this very thing and they are all handling it differently. Lots of tools for our toolboxes, my friends.
How will this be important? If successful, it is another blueprint of how to pass sports betting a fairy red location.
What’s happening? Nevada is considering SB 367 (2021 | NV) that removes the sales tax exemption for professional sports tickets. Professional sports tickets ahem been exempt from the liven entertainment tax since 2015. The tax applies to events with more than 200 attendees.
Why is this important? The raiders say the tax could harm expansion for the Las Vegas team.
How will this be important? All states are identifying new ways to impose new or amended taxes. Keep it in your memory vault.
What’s happening? Minnesota legislators voted to increase the state gas tax by 5 cents. Republicans countered the bill with an increase in the sales tax for auto parts.
Why is this important? gas tax revenues have been in decline because of fuel efficiency, low gas prices and less driving during the pandemic.
How will this be important? ll states are grappling with declining gas tax revenues.
What’s happening? Alabama S126 (AL- 2021) and Texas are both seeing alcohol to go sales moving through their legislative chambers.
Why is this important? The pandemic led Governors to loosen certain regulatory restrictions, which created a pilot program of sorts to test how will the state operate if we loosen these rules. Turns out, it will be A-OK. So now those looser rules are getting codified.
How will this be important? The new economy will continue to be a reassessment of the old rules. Just because we always did it that way, doesn’t mean that way was the right way.
What’s happening? Florida Senate is moving SB138 (2021 | FL) that will use it’s $135 EV fee to create the Electric Vehicle Infrastructure Grant Program to help pay to install the charging stations.
Why is this important? The bill has an economic development component for the EV infrastructure building and will split funds between the Florida Department of Transportation and local governments, with counties getting 36% to make up for lost gas tax revenue.
How will this be important? Building out EV charging station infrastructure is big business. “This is going to create a very large industry,” said Sen. Tom Wright, R-New Smyrna Beach.
What’s happening? Colorado is considering the Natural Disaster Mitigation Enterprise, HB21-1208 (2021 | Co) that would add a $1.25 per every $1,000 in premiums to create the state-run natural disaster mitigation enterprise fund that would help communities finance necessary work to lessen or prevent future catastrophes.
Why is this important? Mitigating disasters is big talk and big work in state legislatures.
How will this be important? The pacing of “disasters” seems to be increasing.
What’s happening? The Office of Management and Budget is set to reclassify the size requirements for Metropolitan Statistical Areas. In 1950s when they came up with the size of MSAs, the low end was 50,000. Times changed. There’s a lot more people in the US. Now, they want to change the MSA designation to 100,000 population for core cities.
Why is this important? MSA stays determines federal funding. If you lose your MSA status, you lose the funding access.
How will this be important? It will hit 6 cities in TX, 5 in CA and 9 in PA, among scores of others.
What’s happening? Governing Column looks at what is important when governments build infrastructure. Turns out it isn’t just time and money. It’s also who owns the infrastructure, what it looks like (design matters) and connections.
Why is this important? Because often the choice is which costs the least, but in the end the project can cost more if it’s an eye sore, serves no purpose because it doesn’t connect people and communities, or is run by a 3rd party.
Why will this be important? Public Private Ownership is a perennial policy decision and works well with good actors. But, when the public turns on a project managed by a bad actor, its a costly policy problem.
What’s happening? Michigan legalized cannabis more than a year ago. mall cities are reaping the revenue benefits without raising existing taxes.
Why is this important? Cities benefit from license fees and tax revenue from marijuana with no impact to law enforcement activity or budgets.
How will this be important? When cities have little ability to rate taxes, new taxes provide a key revenue source.
What’s happening? Illinois became the 4th state to take in more than $500 million in sports bets in a single month. Illinois came close to $600M for January.
Why is this important? Operator revenue (jobs) in January was $49.4 million. $7.2 million in taxes for the state. 39.5% of the state’s total handle came from basketball betting.
How will this be important? Not every state has legalized sports betting and as more states top $500 million in revenue for a month, the revenue numbers are enticing.
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