Video gaming terminals (VGTs); regulation, penalties.

Regulating video gaming terminals; penalties. Authorizes and specifies the licensing requirements for the manufacture,distribution, operation, servicing, hosting, and playing of video gaming terminals (VGTs). The bill provides that VGTs are regulatedby the Virginia Lottery Board, which the bill renames as the VirginiaLottery and Gaming Oversight Board. The bill requires employees ofsuch licensees to be registered with the Virginia Lottery, whichthe bill renames as the Virginia Lottery and Gaming Department. Thebill imposes criminal and civil penalties for violations of the lawand regulations related to VGTs. The bill imposes a 34 percent taxon all gross profits from the play of VGTs and provides for how thetax proceeds are used; most are deposited into the School ConstructionFund, created by the bill.