Electronic transfer of keno funds advanced

A bill that would change the way keno locations handle keno revenue was advanced from the first round of debate March 7.

State law requires a keno operator to keep keno revenue separate from other sources. Omaha Sen. Justin Wayne, sponsor of LB724, said that keno sales outlets accomplish this by keeping two bank accounts, one for keno revenue and another for all other funds. LB724 would allow keno operators to commingle funds in a single account.

The bill also would allow the state tax commissioner to authorize the electronic transfer of keno funds from a sales outlet’s general business account to the bank account of a lottery operator, county, city or village no later than five business days after they were collected.

“This bill will allow us to make the end-of-the day deposits more efficient and safe by allowing a process similar to the one that is already used in the Nebraska Lottery,” Wayne said.

LB724 would require that gross lottery proceeds be deposited into the account of the sales outlet location, lottery operator, county, city or village no later than five business days after they were collected. The funds currently must be deposited within four business days.

After adopting a technical amendment, senators voted 28-0 to advance the bill to select file.