Illinois SB 1224 creates the Fantasy Sports Consumer Protection Act. This act:
- Provides that the Illinois Gaming Board may regulate the conduct of fantasy contest operators under the Act.
- Allows the Board to levy and collect fees, surcharges, civil penalties, and, on adjusted gross fantasy contest receipts imposed under the Act, monthly taxes, and identifies other powers and duties of the Board. Includes restrictions, including requiring licensing, of fantasy contest operators.
- Excludes fantasy contests from the definition of “sports wagering.”
- Provides that participants in fantasy contest wagering shall not be convicted of the offense of gambling when conducted in accordance with the Fantasy Sports Consumer Protection Act.