Hearing On US Internet Poker Bill To Take Place On 27 JulyJuly 23, 2010 7:48 am
The US Internet Poker Bill, known as HR 2267, has been debated at a Congressional hearing this week and the proposed legislation is now due to be amended and rewritten by the House Financial Services Committee next Tuesday.
The bill proposes that the U.S. government provides a safe and regulated environment for the online poker industry and during the debate, all manners of changes or ‘markups’ were discussed.
These changes proposed include the use of technologies to monitor the industry and a wager limit to restrict a player’s exposure to potential losses.
If the amended bill receives enough votes in the committee, it would then be moved onto the House of Representatives for consideration.
Rep. Barney Frank is the main pioneer and exponent behind the Internet Poker Bill and he has been receiving a great deal of support during his campaign, from organisations such as the Poker Players Alliance (PPA) and the Safe and Secure Internet Gambling Initiative (SSIGI).
SSIGI spokesperson Michael Waxman, commenting on the latest developments taking place in Washington, said that Congress was now demonstrating a real seriousness in moving the bill forward, and said:
“The passage of this legislation would be a win-win, as it will protect consumers, create an estimated 32,000 new jobs over five years, and provide federal and state governments with as much as $72 billion in new revenues over ten years.”
Also being considered is a 6% deposit fee paid by licensed operators to state governments, as well as 25% of revenue received being designated for care programmes.
The House Financial Services Committee mark up of Rep. Barney Frank’s HR 2267 Bill will get underway on Tuesday, July 27th from 10:00am ET.