Electronic transfer of keno funds approved

Lawmakers passed a bill March 29 that would change the way keno locations handle keno revenue.

State law requires a keno operator to keep keno revenue separate from other sources. Keno sales outlets accomplish this by keeping two bank accounts, one for keno revenue and another for all other funds.

Under LB724, introduced by Omaha Sen. Justin Wayne, a keno operator would be required to keep cash receipts from the sale of keno tickets segregated from other revenue until deposited in a single nonsegregated account. The state tax commissioner could authorize the electronic transfer of keno funds from that nonsegregated account to the bank account of a lottery operator, county, city or village no later than five business days after they were collected.

The bill also requires 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 bill passed on a vote of 47-0.

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