Barney Frank's legislation proposing a delay in UIGEA implementation and a system of regulation and taxation for online casinos will finally be brought before the House Financial Services Committee. In its announcement of its upcoming calendar, the committee said Thursday, December 3rd, will be the time to discuss Frank's plan to allow controlled online gambling in the US.The committee will review both House Resolution 2266, in which Frank suggests postponing UIGEA implementation until the end of 2010, and H.R. 2267, in which Frank lays out a plan to license and tax Internet casinos and online gambling.
The date comes two days after a scheduled beginning of required compliance to the UIGEA, a date reportedly postponed today for another six months. Letters from twenty-five Congressmen of both parties had asked Treasury boss Tim Geithner to postpone the problematic Internet gambling payment ban.
One of the reasons given Geithner to further delay the UIGEA was the imminent legislative review of the law, which was attached at the last minute to a port security act, and never was debated nor discussed by lawmakers. Now, that review will take place next week.
Frank had been trying to get the bills in front of the committee, which he chairs, since last spring, but dealing with the recession has kept the committee too busy to hear discussion on online casinos. Deadlines set by Frank at Easter and then July 4th came and went, and only now will formal public conversation be held concerning online gambling.
Published on November 25, 2009 by TomWeston
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