Introduced on April 26, 2007 by Rep. Barney Frank [D-MA] the H.R. 2046: Internet Gambling Regulation and Enforcement Act of 2007, the act aims to amends federal law governing monetary transactions to establish an Internet Gambling Licensing Program administered and enforced by the Director of the Financial Crimes Enforcement Network (Director).
H.R. 2046 prescribes requirements for the licensing of Internet betting or wagering, provides that activities involving investment banking, payment and transaction processing, and financial transactions are shielded from liability if they are conducted in compliance with this Act and specified law.
This bill is in the first step in the legislative process. Introduced bills go first to committees that deliberate, investigate, and revise them before they go to general debate. The majority of bills never make it out of committee. On April 30, 2007 H.R. 2046 was referred to House Energy and Commerce, Subcommittee on Commerce, Trade and Consumer Protection and no activity has taken place since.
If this act became a law, it would become simple for people living in the United States to bet on NBA Basketball, NFL Football, MLB Baseball, NCAA March Madness, NHL Hockey or even Boxing, Motorsports, Soccer, Golf and Rugby.
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[...] today Congressman George Miller [CA-7] signed on to co-sponsor Bill HR 2046, which we wrote about earlier. George Miller became the 46th Congressman to co-sponsor the bill [...]
[...] events from the United States. Just a week ago another Congressman signed on to support Bill HR 2046. The legislation functions as a companion bill to the Internet Gambling Regulation and Enforcement [...]
[...] [D-NY], who represents the 1st District of New York State has joined as the 47th co-sponsor of H.R. 2046: Internet Gambling Regulation and Enforcement Act of 2007. Congressman Bishop currently serves on the House Transportation and Infrastructure Committee and [...]