RALEIGH, N.C. — A new House budget proposal that was released on Monday evening could give two of North Carolina’s largest athletic departments funds from legalized sports gambling, which would a reversal from the existing state law, according to WRAL.
North Carolina State and the University of North Carolina at Chapel Hill were both left out of any tax revenue distribution when the law first passed in 2023.
However, tax revenue from sports betting has far exceeded projections after it in March, according to WRAL.
The state is set to collect more than $42 million through the end of last month.
“There’s so much more money coming in from sports betting than was originally forecast,” said Republican state Rep. Jason Saine, a sponsor of the original sports betting bill and a key budget writer.
If the proposal passes, UNC and NC state would spilt 5% of tax revenue from sports betting after initial distributions were paid. They would spilt it with Appalachian State University, East Carolina University, North Carolina A&T and UNC-Charlotte.
WRAL is reporting that the Senate does not support the entirety of the House proposal. With both chambers having Republican supermajorities, they would have to agree on a spending plan for it to enacted.
The changes would go into effect Aug. 1.
The budget proposal estimates that UNC and NC State each would receive $930,000 for the 2024-25 fiscal year. That starts on July 1. It says that Appalachian State, Charlotte, East Carolina and North Carolina A&T each would receive $1.775 million, WRAL says.
UNC-Asheville, UNC-Greensboro, UNC-Pembroke, UNC-Wilmington, Western Carolina, Winston-Salem State, Elizabeth City State, Fayetteville State and North Carolina Central would all each receive $845,385.
(WATCH BELOW: What to expect when sports betting finally becomes legal in NC in 2024)
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