Text: S03330 Text: S03332 Text: S03300 - S03399 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 445 as follows:
1 2 #1. Page 1, by inserting before line 1 the
1 3 following:
1 4 "Section 1. Section 99D.8, unnumbered paragraph 1,
1 5 Code 1999, 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 #2. Page 4, by inserting after line 6 the
1 32 following:
1 33 "Sec. . NEW SECTION. 99F.4C DIVESTITURE.
1 34 1. If, on the effective date of this Act, a county
1 35 owns or has a leasehold interest in any real estate or
1 36 other property which is used in the operation of slot
1 37 machines licensed pursuant to this chapter or of a
1 38 pari-mutuel horse racetrack licensed pursuant to
1 39 chapter 99D, the county shall divest itself not later
1 40 than July 1, 2000, of any interest in the real estate
1 41 or other property which is used in the operation of
1 42 slot machines or pari-mutuel horse racing.
1 43 2. A county which owns or has a leasehold interest
1 44 in real property as provided in subsection 1 shall
1 45 divest itself of the real property by sale at a fair
1 46 market price to a corporation organized pursuant to
1 47 chapter 490 with the following restrictions and
1 48 requirements:
1 49 a. All shares of the corporation shall be sold to
1 50 residents of this state.
2 1 b. All officers and directors of the corporation
2 2 shall be residents of this state.
2 3 c. The transfer of all shares shall be subject to
2 4 the approval of the corporation and the transfer shall
2 5 be to the corporation or to other residents of this
2 6 state."
2 7 #3. Title page, line 3, by inserting after the
2 8 word "machines," the following: "providing for the
2 9 divestiture of gambling facilities held by counties,".
2 10
2 11
2 12
2 13 JACK RIFE
2 14
2 15
2 16
2 17 DERRYL McLAREN
2 18 SF 445.10
2 19 tj/cc/26
Text: S03330 Text: S03332 Text: S03300 - S03399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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