Va. Small Business Economic Dev. Act; established, regulation and taxation of skill game machines.

Regulation and taxation of electronic skill gaming devices; penalties. Authorizes and specifies the registration and licensing requirements for the manufacture, distribution, operation, hosting, and playing of electronic skill gaming devices, as defined in the bill, under the regulatory authority of the Virginia Lottery. The bill imposes a 25 percent tax on all gross profits generated from the play of such electronic skill gaming devices and provides for the use of such tax proceeds after deposit in the Virginia Gaming Commerce and Development Fund, established in the bill. The bill also imposes criminal and civil penalties for violations of the law and regulations related to electronic skill gaming devices.