INDIANAPOLIS -- The House Ways and Means Committee Monday scaled back a bill regulating daily fantasy sports.
Just five days ago, the House Public Policy Committee installed large operating fees into the bill -- a $75,000 initial fee, with a $20,000 yearly renewal for fantasy sports operators. The House’s fiscal committee, Ways and Means, saw fit to decrease those to a $50,000 initial fee and a $5,000 renewal.
Democratic Rep. Ed DeLaney doesn’t like that idea.
“If we’re going to engage in this, I don’t want to lower any fees,” he said.
The committee also removed language requiring daily fantasy operators to withhold income tax from players’ winnings. Rep. Todd Huston says that process is convoluted.
“I don’t think we’re prepared to do it today, from a regulatory aspect," Huston said. "What we’re doing is putting some parameters in place so that we can get the right people at the right table, sit down and figure this out.”
The committee’s approved change would create a study committee this year to investigate tax withholding in daily fantasy sports.
The bill advanced to the House floor with a 19-4 vote.