Legislation authored by Barney Frank proposing the licensing and regulation of online casinos will arise for committee discussion next week, after an extended wait.

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 home Financial Services Committee. In its announcement of its upcoming calendar, the committee said Thursday, December 3rd, would be the time to talk about Frank's plan to permit controlled online gambling within the US.

The committee will review both House Resolution 2266, by which Frank suggests postponing UIGEA implementation until the top of 2010, and H.R. 2267, wherein 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 an additional 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 explanations given Geithner to further delay the UIGEA was the approaching legislative review of the law, which was attached on the last minute to a port security act, and not was debated nor discussed by lawmakers. Now, that review will happen next week.

Frank were seeking to get the bills in front of the committee, which he chairs, since last spring, but coping with the recession has kept the committee too busy to listen to discussion on online casinos. Deadlines set by Frank at Easter after which July 4th came and went, and only now will formal public conversation be held concerning online gambling.

Published on November 25, 2009 by TomWeston

Read More... [Source: UIGEA News]