Representative Barney Franks HR 2267 Online Gaming Regulation Bill

Rep. Barney Frank has been trying to overturn the UIGEA (unlawful internet gambling enforcement act) since it was passed in 2006 and Rep. Frank may have the best chance to do so in the next few months.

The process will start on April 9th, 2010 when Rep. Frank’s House Financial Services Committee holds a committee hearing on two bills authored by Frank. Last year, Rep. Frank unveiled two pieces of proposal. The first one was the Reasonable Prudence in Regulation Act and the second one was the internet gambling Regulation, Consumer Protection and Enforcement Act of 2009.

Rep. Frank’s goal is to have lawmakers overturn the Unlawful Internet Gambling Enforcement Act (UIGEA) and create a regulatory system of online gaming in the United States. The representative from the state of Massachusetts had a party majority in the House, which may give him his best opportunity to pass the new proposal.

But time is not on Rep. Frank’s side. The rules of the UIGEA were set to be enforce in December 2009, but Frank and other lawmakers petitioned and received, a postponement in the enforcement of the rules. Now Rep. Frank has until June 2010 to pass his proposal.