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Post by Speedwell Cat on Mar 21, 2023 14:45:46 GMT -5
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Post by The Cats on Mar 21, 2023 15:50:01 GMT -5
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Post by Speedwell Cat on Mar 21, 2023 17:24:14 GMT -5
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Post by Speedwell Cat on Mar 22, 2023 14:20:24 GMT -5
From WRAL:
"The bill calls for those 10 schools' athletic departments to receive $300,000 annually, plus 10 percent of remaining revenue after specific programs are funded. Schools in the UNC System that sponsor Football Bowl Subdivision football are not eligible for the money.
But in fiscal year 2023-24, which begins July 1, there would no revenue for them, according to fiscal research. After the Department of Health and Human Services received $2 million for gambling addiction and treatment programs, the remaining $400,000 would go to the NC Division of Parks and Recreation for grants to counties for youth sports development.
In fiscal year 2023-24, sports wagering is projected to bring in 13.2 million in taxes and fees and cost $5.8 million in expenditures. The Lottery Commission, which is tasked with regulating sports betting in the state under the bill, would receive $2.9 million for its expenses. Each operators license costs $1 million.
By fiscal year 2027-28, as revenues from the tax rise, each of the athletic departments are projected to receive $800,000.
Fiscal research projects $22.2 million in tax revenue from mobile sports wagering in fiscal year 2024-25, $31.4 in 2025-26; $31.4 million in 2026-27 and $45.6 million in 2026-27."
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