SB462:

Video gaming terminals (VGTs); regulation, penalties.

Bill Summary:

Regulating video gaming terminals; penalties.
Authorizes and specifies the licensing requirements for the manufacture,
distribution, operation, servicing, hosting, and playing of video
gaming terminals (VGTs). The bill provides that VGTs are regulated
by the Virginia Lottery Board, which the bill renames as the Virginia
Lottery and Gaming Oversight Board. The bill requires employees of
such licensees to be registered with the Virginia Lottery, which
the bill renames as the Virginia Lottery and Gaming Department. The
bill imposes criminal and civil penalties for violations of the law
and regulations related to VGTs. The bill imposes a 34 percent tax
on all gross profits from the play of VGTs and provides for how the
tax proceeds are used; most are deposited into the School Construction
Fund, created by the bill.