Text: H05843 Text: H05845 Text: H05800 - H05899 Text: H Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Amend House File 2423 as follows:
1 2 #1. Page 1, by striking lines 4 through 23 and
1 3 inserting the following:
1 4 "6. Notwithstanding any exemption provision, for
1 5 taxes payable in the fiscal year beginning July 1,
1 6 1997, and for each subsequent fiscal year, real
1 7 property used in the operation of a racetrack or
1 8 racetrack enclosure shall be subject to real property
1 9 taxation. The rate at which such property shall be
1 10 taxed shall be the combined rate of all taxing
1 11 districts in which the racetrack or racetrack
1 12 enclosure is located. However, the amount of tax
1 13 collected shall not go to the individual taxing
1 14 districts but shall be collected by the county and
1 15 remitted to the department of revenue and finance to
1 16 be deposited into the state gambling tax relief fund
1 17 created in section 422.115.
1 18 Sec. . Section 99F.10, Code Supplement 1995, is
1 19 amended by adding the following new subsection:
1 20 NEW SUBSECTION. 7. Notwithstanding any exemption
1 21 provision, for taxes payable in the fiscal year
1 22 beginning July 1, 1997, and for each subsequent fiscal
1 23 year, real property used in the operation of an
1 24 excursion gambling boat or used as a dock for an
1 25 excursion gambling boat shall be subject to real
1 26 property taxation. The rate at which such property
1 27 shall be taxed shall be the combined rate of all
1 28 taxing districts in which the excursion gambling boat
1 29 or dock is located. However, the amount of tax
1 30 collected shall not go to the individual taxing
1 31 districts but shall be collected by the county and
1 32 remitted to the department of revenue and finance to
1 33 be deposited into the state gambling tax relief fund
1 34 created in section 422.115.
1 35 Sec. . Section 99F.11, unnumbered paragraph 1,
1 36 Code 1995, is amended to read as follows:
1 37 A tax is imposed on the adjusted gross receipts
1 38 received annually from gambling games authorized under
1 39 this chapter at the rate of five percent on the first
1 40 one million dollars of adjusted gross receipts, at the
1 41 rate of ten percent on the next two million dollars of
1 42 adjusted gross receipts, and at the rate of twenty
1 43 percent on any amount of adjusted gross receipts over
1 44 three million dollars. However, beginning January 1,
1 45 1997, the rate on any amount of adjusted gross
1 46 receipts over three million dollars from gambling
1 47 games at racetrack enclosures or on an excursion
1 48 gambling boat or dock is twenty-two percent and shall
1 49 increase by two percent each succeeding calendar year
1 50 until the rate is thirty-six percent. The taxes
2 1 imposed by this section shall be paid by the licensee
2 2 to the treasurer of state within ten days after the
2 3 close of the day when the wagers were made and shall
2 4 be distributed as follows:
2 5 Sec. . Section 99F.11, Code 1995, is amended by
2 6 adding the following new subsection:
2 7 NEW SUBSECTION. 3A. The amount of adjusted gross
2 8 receipts tax collected which is from the rate in
2 9 excess of twenty percent shall be deposited into the
2 10 state gambling tax relief fund created in section
2 11 422.115.
2 12 Sec. . NEW SECTION. 422.115 STATE GAMBLING
2 13 TAX RELIEF FUND.
2 14 There is created a state gambling tax relief fund
2 15 which contains moneys credited to it by law. Moneys
2 16 in this fund are annually appropriated to the
2 17 department to be remitted to the county treasurer of
2 18 each county on a per capita basis to be used for any
2 19 lawful purpose of the county."
2 20
2 21
2 22
2 23 CATALDO of Polk
2 24
2 25
2 26
2 27 McCOY of Polk
2 28 HF 2423.703 76
2 29 mg/sc
Text: H05843 Text: H05845 Text: H05800 - H05899 Text: H Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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