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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