Text: S03118                            Text: S03120
Text: S03100 - S03199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 3119

Amendment Text

PAG LIN
  1  1    Amend House File 212, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  Page 2, by inserting after line 13 the
  1  4 following:
  1  5    "Sec. ___.  Section 99F.11, unnumbered paragraph 1,
  1  6 Code 1997, is amended to read as follows:
  1  7    A tax is imposed on the adjusted gross receipts
  1  8 received annually from gambling games authorized under
  1  9 this chapter at the rate of five percent on the first
  1 10 one million dollars of adjusted gross receipts, at the
  1 11 rate of ten percent on the next two million dollars of
  1 12 adjusted gross receipts, and at the rate of twenty
  1 13 percent on any amount of adjusted gross receipts over
  1 14 three million dollars.  However, beginning January
  1 15 July 1, 1997, the rate on any amount of adjusted gross
  1 16 receipts over three million dollars from gambling
  1 17 games at racetrack enclosures is twenty-two percent
  1 18 and shall increase by two percent each succeeding
  1 19 calendar year until the rate is thirty-six percent.
  1 20 The taxes imposed by this section shall be paid by the
  1 21 licensee to the treasurer of state within ten days
  1 22 after the close of the day when the wagers were made
  1 23 and shall be distributed as follows:
  1 24    Sec. ___.  Section 99F.11, Code 1997, is amended by
  1 25 adding the following new subsection:
  1 26    NEW SUBSECTION.  3A.  Fourteen percent of the
  1 27 adjusted gross receipts shall be deposited in the
  1 28 rebuild Iowa infrastructure fund created in section
  1 29 8.57, subsection 5." 
  1 30 
  1 31 
  1 32                               
  1 33 JIM LIND
  1 34 HF 212.5
  1 35 mg/cc/26
     

Text: S03118                            Text: S03120
Text: S03100 - S03199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Iowa General Assembly

Search: Senate Bills and Amendments (77th General Assembly)

© 1997 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Fri Mar 7 03:42:02 CST 1997
URL: /DOCS/GA/77GA/Legislation/S/03100/S03119/970306.html
jhf