(1) (a) Beginning August 1, 2014, but before August 1, 2022, an excise tax is imposed on all advance deposit account wagering licensees licensed under KRS 230.260 at a rate of one-half of one percent (0.5%) of all amounts wagered through the licensee by Kentucky residents; and (b) Beginning August 1, 2022, an excise tax is imposed on all advance deposit account wagering licensees licensed under KRS 230.260 at a rate of one and one-half percent (1.5%) of all amounts wagered through the licensee by Kentucky residents.
(2) The tax imposed by this section shall be paid, collected, administered, and distributed as provided in KRS 138.530.