Text: S05070 Text: S05072 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 2026 as follows: 1 2 #1. By striking everything after the enacting 1 3 clause and inserting the following: 1 4 "Section 1. Section 99D.8, unnumbered paragraph 1, 1 5 Code 1997, is amended to read as follows: 1 6 A qualifying organization, as defined in section 1 7 513(d)(2)(C) of the Internal Revenue Code, as defined 1 8 in section 422.3, exempt from federal income taxation 1 9 under sections 501(c)(3), 501(c)(4), or 501(c)(5) of 1 10 the Internal Revenue Code or a nonprofit corporation 1 11 organized under the laws of this state, whether or not 1 12 it is exempt from federal income taxation, which is 1 13 organized to promote those purposes enumerated in 1 14 section 99B.7, subsection 3, paragraph "b", or which 1 15 regularly conducts an agricultural and educational 1 16 fair or exposition for the promotion of the horse, 1 17 dog, or other livestock breeding industries of the 1 18 state, or an agency, instrumentality, or political 1 19 subdivision of the state, may apply to the commission 1 20 for a license to conduct horse or dog racing. The 1 21 application shall be filed with the administrator of 1 22 the commission at least sixty days before the first 1 23 day of the horse race or dog race meeting which the 1 24 organization proposes to conduct, shall specify the 1 25 day or days when and the exact location where it 1 26 proposes to conduct racing, and shall be in a form and 1 27 contain information as the commission prescribes. A 1 28 county shall not own or lease a pari-mutuel horse 1 29 racetrack and shall not own or lease any facility in 1 30 which slot machines are licensed to operate. 1 31 Sec. 2. NEW SECTION. 99F.4C DIVESTITURE. 1 32 1. If, on the effective date of this Act, a county 1 33 owns or has a leasehold interest in any real estate or 1 34 other property which is used in the operation of slot 1 35 machines licensed pursuant to this chapter or of a 1 36 pari-mutuel horse racetrack licensed pursuant to 1 37 chapter 99D, the county shall divest itself not later 1 38 than July 1, 1999, of any interest in the real estate 1 39 or other property which is used in the operation of 1 40 slot machines or pari-mutuel horse racing. 1 41 2. A county which owns or has a leasehold interest 1 42 in real property as provided in subsection 1 shall 1 43 divest itself of the real property by sale at a fair 1 44 market price to a corporation organized pursuant to 1 45 chapter 490 with the following restrictions and 1 46 requirements: 1 47 a. All shares of the corporation shall be sold to 1 48 residents of this state. 1 49 b. All officers and directors of the corporation 1 50 shall be residents of this state. 2 1 c. The transfer of all shares shall be subject to 2 2 the approval of the corporation and the transfer shall 2 3 be to the corporation or to other residents of this 2 4 state." 2 5 #2. Title page, lines 2 and 3 by striking the 2 6 words "political subdivisions of the state" and 2 7 inserting the following: "a county". 2 8 2 9 2 10 2 11 COMMITTEE ON STATE GOVERNMENT 2 12 SHELDON RITTMER, Chairperson 2 13 SF 2026.303 77 2 14 tj/cf/28
Text: S05070 Text: S05072 Text: S05000 - S05099 Text: S Index Bills and Amendments: General Index Bill History: General Index
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