C.R.S. Section 44-30-1509
Sports betting fund

  • wagering revenue recipients hold-harmless fund
  • creation
  • rules
  • definitions
  • repeal

(1)

Intentionally left blank —Ed.

(a)

There is hereby created, in the state treasury, the sports betting fund, referred to in this section as the “fund”. The initial appropriation to the division for sports betting regulation and all subsequent revenues of the division derived from sports betting activity and the regulation of fantasy contest operators under part 16 of this article 30, including license fees, fines and penalties, and collection of the sports betting tax, shall be deposited into the fund. All expenses of the division related to sports betting and fantasy contest regulation, including the expenses of investigation and prosecution relating to sports betting and the regulation of fantasy contest operators, shall be paid from the fund.

(b)

All money paid into the fund is continuously appropriated for the purposes of implementing this part 15 and part 16 of this article 30. Payment shall be made upon proper presentation of a voucher prepared by the commission in accordance with other statutes governing payments of liabilities incurred on behalf of the state and shall not be conditioned on any appropriation by the general assembly. Receipt of the payment constitutes spending authority by the division.

(2)

From the money in the sports betting fund, to the extent the unexpended and unencumbered balance in the fund so permits, the state treasurer shall:

(a)

First, transfer an amount to the general fund to repay any appropriation made from the general fund for the commission’s and division’s startup costs, including initial licensing and rule-making, related to sports betting;

(b)

Second, pay all ongoing expenses related to administering this part 15 incurred by the commission, the department, the division, and any other state agency from whom assistance related to the administration of this part 15 is requested by the commission or the director, as determined in accordance with rules of the commission. When making distributions from the fund as described in this subsection (2), the state treasurer may withhold an amount reasonably anticipated to be sufficient to pay the expenses until the next annual distribution.

(c)

Third, transfer an amount equal to six percent of the full fiscal year sports betting tax revenues to the wagering revenue recipients hold-harmless fund, referred to in this section as the “hold-harmless fund”, which is hereby created in the state treasury, from which the state treasurer shall make disbursements as directed by the commission as follows:

(I)

The commission shall accept applications from the following persons and entities for annual, lump-sum payments to offset any loss of revenue that they can demonstrate, to the commission’s satisfaction, is attributable to sports betting:

(A)

The state historical fund created by section 9 (5)(b)(II) of article XVIII of the state constitution;

(B)

The colleges described in section 44-30-702 (4)(a);

(C)

The cities of Central, Black Hawk, and Cripple Creek;

(D)

The counties of Gilpin and Teller; and

(E)

Any persons or entities who benefit from purse funds collected pursuant to section 44-32-702 (1)(c) or 44-32-705.

(II)

The commission shall establish, by rule, an annual schedule for the acceptance of applications; the form and manner in which applications must be made; its criteria for verifying the amount of each applicant’s revenue loss attributable to sports betting; and the date on which distributions from the hold-harmless fund are to be made.

(III)

If, on the annual date of distribution, there is not sufficient money in the hold-harmless fund to pay all verified losses, the commission shall direct the state treasurer to reduce the amount of all claims by a uniform percentage so that applicants receive a share of the money proportionate to their verified losses.

(IV)

On December 31, 2023, and on December 31 of each year thereafter, the state treasurer shall transfer any money credited to the hold-harmless fund and not disbursed within two years after the date on which the money is credited to the hold-harmless fund, as authorized by the commission, to the responsible gaming grant program cash fund created in section 44-30-1702 (8).

(d)

Intentionally left blank —Ed.

(I)

Fourth, transfer one hundred thirty thousand dollars annually to the behavioral health administration in the department of human services, to be used as follows:

(A)

Thirty thousand dollars for the operation of a crisis hotline for gamblers by Rocky Mountain Crisis Partners or its successor organization; and

(B)

One hundred thousand dollars for prevention, education, treatment, and workforce development by, and including the payment of salaries of, counselors certified in the treatment of gambling disorders.

(II)

This subsection (2)(d) is repealed, effective December 31, 2023.

(e)

[Editor’s note:
This version of subsection (2)(e) is effective until January 1, 2024.]
Fifth, transfer all remaining unexpended and unencumbered money in the fund to the water plan implementation cash fund created in section 37-60-123.3.

(e)

[Editor’s note:
This version of subsection (2)(e) is effective January 1, 2024.]
Fourth, transfer all remaining unexpended and unencumbered money in the fund to the water plan implementation cash fund created in section 37-60-123.3.

(3)

Nothing in this section permits compounding or accumulation of the annual adjustment.

(4)

Upon request, the state treasurer shall report to the director or the commission the amount of money available in the fund. The director shall certify all accounts and expenditures from the fund. The state treasurer shall pay upon warrants drawn by the controller. The controller is authorized as directed to draw warrants payable out of the fund upon vouchers properly certified.

(5)

The state treasurer shall invest the money in the fund so long as the money is timely available to pay the expenses of the division. Investments must be those otherwise permitted by state law, and interest or any other return on the investments shall be paid into the fund.

(6)

The division shall be operated so that, after the initial state appropriation, its administration of this part 15 and part 16 of this article 30 is financially self-sustaining.

(7)

No claim for the payment of any expense of the division relating to administering this part 15 or part 16 of this article 30 can be made unless it is against the fund. No other money of the state shall be used or obligated to pay the expenses of the division or commission related to sports betting or fantasy sports activity.

Source: Section 44-30-1509 — Sports betting fund - wagering revenue recipients hold-harmless fund - creation - rules - definitions - repeal, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-44.­pdf (accessed Oct. 20, 2023).

44‑30‑101
Short title
44‑30‑102
Legislative declaration
44‑30‑103
Definitions
44‑30‑104
Limited gaming - sports betting - authorization - regulation
44‑30‑105
Limited gaming - cities - commercial districts
44‑30‑106
Exceptions
44‑30‑201
Division of gaming - creation
44‑30‑202
Functions of division - repeal
44‑30‑203
Director - qualification - powers and duties
44‑30‑204
Investigator - peace officers
44‑30‑205
Division of gaming - access to records
44‑30‑206
Repeal of division - review of functions
44‑30‑301
Colorado limited gaming control commission - creation
44‑30‑302
Commission - powers and duties - rules
44‑30‑401
Conflict of interest
44‑30‑501
Licenses - types - rules
44‑30‑502
Key employee - determination of status
44‑30‑503
Licenses - revocable - nontransferable
44‑30‑504
Operator, slot machine manufacturer or distributor, associated equipment supplier, key employee, support licensee, or retailer - qualifications for licensure
44‑30‑505
Considerations for licensure
44‑30‑506
Temporary or conditional licenses
44‑30‑507
Delegation of licensing duties
44‑30‑508
Licensed premises - retail floor plan - definition
44‑30‑509
License - disqualification - criteria
44‑30‑510
Applicants and licensees - providing information - criminal history record check
44‑30‑511
Application - fee - waiver of confidentiality
44‑30‑512
Supplier of licensee - licensure requirements
44‑30‑513
Application - authorization for background investigations
44‑30‑514
License - grounds for approval or denial
44‑30‑515
Licensed premises - safety conditions - fire and electrical
44‑30‑516
Buildings - accessible to persons with disabilities
44‑30‑517
Waiver from liability - state of Colorado - disclosures or publications
44‑30‑518
Renewal of licenses
44‑30‑519
Denial of application
44‑30‑520
Appeal of final action of commission
44‑30‑521
Executive and closed meetings
44‑30‑522
Communications - privileged and confidential
44‑30‑523
Summary suspension
44‑30‑524
Suspension or revocation of license - grounds - penalties
44‑30‑525
Commission hearings - testimony
44‑30‑526
Records - confidentiality - exceptions
44‑30‑527
Executive director and director have access to files and records
44‑30‑528
Licensees - duty to maintain records
44‑30‑529
5)
44‑30‑530
Payments of winnings - intercept
44‑30‑531
Responsible gaming - advertising and promotional efforts - reports of certain licensees required - confidential records
44‑30‑601
Gaming tax
44‑30‑602
Return and remittance
44‑30‑603
Violations of taxation provisions - penalties
44‑30‑604
Returns and reports - failure to file - penalties
44‑30‑605
Local jurisdiction
44‑30‑701
Limited gaming fund - created - repeal
44‑30‑702
Revenues attributable to local revisions to gaming limits - extended limited gaming fund - identification - separate administration - distribution - legislative declaration - definitions
44‑30‑703
Audits and annual reports
44‑30‑704
Enforcement
44‑30‑705
Attorney general - duties
44‑30‑801
Limited gaming equipment manufacturers or distributors, operators, associated equipment suppliers, retailers, key employees, support licensees, persons contracting with the commission or division - criteria
44‑30‑802
False statement on application - violations of rules or provisions of article as felony
44‑30‑803
Slot machines - shipping notices
44‑30‑804
Persons prohibited from interest in limited gaming
44‑30‑805
Responsibilities of operator
44‑30‑806
Gaming equipment - security and audit specifications
44‑30‑807
Gaming equipment - not subject to exclusive agreements
44‑30‑808
Restriction upon persons having financial interest in retail licenses
44‑30‑809
Age of participants - penalties - applicability
44‑30‑810
Employee twenty-one years or older required on premises
44‑30‑811
Persons conducting limited gaming
44‑30‑812
Employee of licensed person - good moral character
44‑30‑813
Minimum payback - limit to a slot machine
44‑30‑814
Key employee - support license
44‑30‑815
Extension of credit prohibited
44‑30‑816
Authorized amount of bets
44‑30‑817
Failure to pay winners
44‑30‑818
Approval of rules for certain games
44‑30‑819
Exchange - redemption of chips - unlawful acts
44‑30‑820
Persons in supervisory positions - unlawful acts - rules
44‑30‑821
Cheating - penalty - definition
44‑30‑822
Fraudulent acts
44‑30‑823
Use of device for calculating probabilities
44‑30‑824
Use of counterfeit or unapproved chips or tokens or unlawful coins or devices - possession of certain unlawful devices, equipment, products, or materials - penalty
44‑30‑825
Cheating game and devices - penalty
44‑30‑826
Unlawful manufacture, sale, distribution, marking, altering, or modification of equipment and devices associated with limited gaming - unlawful instruction
44‑30‑828
Detention and questioning of person suspected of violating article - limitations on liability - posting of notice
44‑30‑829
Failure to display operator and premises licenses
44‑30‑830
Authority, duties, and powers - department of revenue and department of public safety
44‑30‑831
Violation of article as misdemeanor
44‑30‑832
Agreements, contracts, leases - void and unenforceable
44‑30‑833
Financial interest restrictions
44‑30‑834
Revocation or expiration of license - requirement of notification
44‑30‑835
Personal pecuniary gain or conflict of interest
44‑30‑836
False or misleading information - unlawful
44‑30‑837
Conducting gaming activities without a license
44‑30‑901
Events sponsored by charitable organizations
44‑30‑902
Terms of sponsorship
44‑30‑903
Notice of sponsorship
44‑30‑1101
Exemption from federal law
44‑30‑1102
Shipments of devices and machines deemed legal
44‑30‑1103
Ownership or possession of slot machines - rules
44‑30‑1201
State historical fund - administration - legislative declaration - state museum cash fund - rules - definition
44‑30‑1202
Expenditures from the state historical fund - legislative declaration
44‑30‑1301
Definitions - local government limited gaming impact fund - rules - report - legislative declaration
44‑30‑1302
Local government limited gaming impact advisory committee - creation - duties
44‑30‑1401
Definitions
44‑30‑1402
Independent restoration and preservation commission - appointments - qualifications - new appointments - appointments without nominations
44‑30‑1403
Funding - compensation
44‑30‑1404
Officers - bylaws - rules
44‑30‑1405
Meetings
44‑30‑1406
Quorum - action
44‑30‑1407
Final agency action - judicial review
44‑30‑1501
Definitions - rules
44‑30‑1502
Conflict of interest - participants in sports or athletic events
44‑30‑1503
Licenses - rules
44‑30‑1504
Disclosure of information by corporate applicants - license required - investigation - criminal history record check - rules - definition
44‑30‑1505
License classifications - number of licenses - designated sports betting operators - qualifications - rules
44‑30‑1506
Operations - eligibility to place bets - record-keeping - information sharing
44‑30‑1507
Records - confidentiality - exceptions
44‑30‑1508
Sports betting tax - rules
44‑30‑1509
Sports betting fund - wagering revenue recipients hold-harmless fund - creation - rules - definitions - repeal
44‑30‑1510
Audits
44‑30‑1511
Unlawful acts
44‑30‑1512
Penalties
44‑30‑1513
Other laws inapplicable
44‑30‑1516
Duties of licensees under the gambling payment intercept act
44‑30‑1601
Short title
44‑30‑1602
Applicability of common provisions
44‑30‑1603
Definitions
44‑30‑1604
Rules
44‑30‑1605
Registration
44‑30‑1606
Licensing - rules
44‑30‑1607
Consumer protections
44‑30‑1608
Duty to maintain records
44‑30‑1609
Authorization to conduct fantasy contests
44‑30‑1610
Grounds for discipline
44‑30‑1611
Civil fines
44‑30‑1612
Applicability
44‑30‑1613
Hearings
44‑30‑1701
Definitions
44‑30‑1702
Responsible gaming grant program - creation - rules - application process - cash fund created - repeal
44‑30‑1703
Exclusion of certain individuals from participation in gaming activities - duties of division - mechanism for self-exclusion - confidential records - rules
Green check means up to date. Up to date

Current through Fall 2024

§ 44-30-1509’s source at colorado​.gov