PROF BOXING ACT-MARTIAL ARTS

Amends the Professional Boxing Act. Changes the short title to the Boxing and Full-contact Martial Arts Act. Provides that all professional and amateur contests, or combination of both, are prohibited unless authorized by the Department of Financial and Professional Regulation, unless one of the exemption applies. Provides that compensation for professional contests shall be determined by the Department and it shall be the promoters that pay the compensation. Requires a person to register as an amateur with the Department before competing in an amateur contest and provides requirements for an applicant to register as an amateur in a full-contact martial arts contest. Increases the civil penalty to $10,000 from $5,000 for anyone who violates the licensing provisions of the Act. Provides requirements for the logistics, including required medical personnel to be present, location and length of contests, and required officials to be present for professional or amateur, or combination of both, contests to be held in accordance with the Act. Requires promoters to pay to the Department of Revenue 3% of the first $500,000 and 4% of additional total gross receipts from the sale, lease, or other exploitation of broadcasting, including, but not limited to, Internet, cable, television, and motion picture rights for that professional or amateur contest in addition to payment of any other taxes or money due. Permits the Department to disclose information and documents related to an examination or investigation of a licensee, registrant, or applicant only to law enforcement officials, other regulatory agencies that have an appropriate regulatory interest as determined by the Secretary, or a party presenting a lawful subpoena to the Department. Makes other changes. Amends the Regulatory Sunset Act to extend the Act from January 1, 2012 to January 1, 2022. Effective immediately.