Mn. Representative Zack Stephenson
ST. PAUL – A long-awaited and controversial sports betting bill is set for a vote in the Minnesota House Wednesday afternoon, the product of long-running efforts spearheaded by Coon Rapids Democrat Zack Stephenson, trying to satisfy competing interests.
Stephenson’s bill authorizes mobile sports betting licenses for Indian tribes with a 20 percent tax on proceeds. It legalizes fantasy contests, taxed at 10 percent. It reduces tax rates on charitable gambling receipts beginning in fiscal 2025, provided tax revenues from sports betting and fantasy contests hit certain thresholds.
Stephenson’s bill prohibits historical horse racing machines at Minnesota’s two horse tracks, overriding a recent decision by the Minnesota Racing Commission, and establishes an economic development account to benefit the tracks.
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