Colorado Legislative Council Staff

NO FISCAL IMPACT

TITLE:            CONCERNING A REQUIREMENT THAT ANY PERSON SUPPLYING SLOT MACHINE EQUIPMENT NOTIFY THE DIVISION OF GAMING WHEN KNOWINGLY ENTERING INTO CERTAIN FINANCIAL RELATIONSHIPS WITH A SLOT MACHINE OPERATOR.

Summary of Assessment

            This bill requires manufacturers and distributors of slot machine equipment to provide the Division of Gaming in the Department of Revenue with 15 days notice whenever such manufacturer or distributor knowingly:

            •   acquires a financial interest in an operator;

            •   employs a person who is also employed by an operator;

            •   allows a person with a substantial interest in its business to have an interest in an operator; or

            •   allows an operator or person with a substantial interest in an operator to have an interest in its business.

            Current law prohibits these types of relationships. The bill will not affect the revenues of the state or of units of local government. Therefore, the bill is assessed as having no fiscal impact. The bill would become effective upon signature of the Governor.

Departments Contacted

            Revenue