Amendment #17 to H3977

Addressing Breaks and Unclaimed Wagers

Mr. Chan of Quincy moves to amend the bill in SECTION 4, by inserting after the definition of “Applicant” in section 3 of chapter 23N, the following definition:-

“Breaks”,  the odd cents over any multiple of 10 cents of winnings per $1 wagered.

And further, in SECTION 4, by inserting at the end of section 13 of chapter 23N, the following:-

(h) Unclaimed winning sports wagers shall be retained by the operator for the person entitled to the wager for 1 year after the game or event in which the wager was won. If no claim is made for the wager within 1 year, the cash or equivalent cash value of the wager shall be deposited in the Sports Wagering Control Fund established in section 15.

And further, in SECTION 4, by striking out subsection (a) of section 15 of chapter 23N, and inserting in place thereof the following:-

(a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Sports Wagering Control Fund. The commission shall be the trustee of the fund and shall expend monies to finance operational activities of the commission pertaining to sports wagering. The fund shall be credited with: (i) any appropriation, bond proceeds or other monies authorized by the general court and specifically designated to be credited thereto; (ii) the proceeds of any fees collected pursuant to this section unless otherwise specified; (iii) application processing fees collected pursuant to sections 7 and 8; (iv) breaks; and (v) such additional funds as are subject to the direction and control of the commission. All available monies in the fund that are unexpended at the end of each fiscal year shall not revert to the General Fund and shall be available for expenditure in the subsequent fiscal year.

Additional co-sponsor(s) added to Amendment #17 to H3977

Addressing Breaks and Unclaimed Wagers