Iowa HSB223 establishes regulations for advance deposit wagering on gambling games, including licensing, tax, and penalties.

Iowa HSB223 introduces regulations for advance deposit wagering on gambling games. The bill authorizes the Iowa Racing and Gaming Commission to permit licensed operators to offer advance deposit gambling games. Eligible individuals, defined as those 21 years or older located within the state or a permissible jurisdiction, can create accounts to deposit money for wagering on games like slots and simulated table games. The bill imposes a 10% tax on net receipts from these games, collected by the commission and credited to the state's general fund.

Iowa HSB223 establishes regulations for advance deposit wagering on gambling games, including licensing, tax, and penalties.

Iowa HSB223 introduces regulations for advance deposit wagering on gambling games. The bill authorizes the Iowa Racing and Gaming Commission to permit licensed operators to offer advance deposit gambling games. Eligible individuals, defined as those 21 years or older located within the state or a permissible jurisdiction, can create accounts to deposit money for wagering on games like slots and simulated table games. The bill imposes a 10% tax on net receipts from these games, collected by the commission and credited to the state's general fund.