Text: H08642                            Text: H08644
Text: H08600 - H08699                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8643

Amendment Text

PAG LIN
  1  1    Amend House File 2623 as follows:
  1  2    #1.  Page 13, by inserting after line 10 the
  1  3 following:
  1  4    "Sec.    .  Section 99F.11, unnumbered paragraph 1,
  1  5 Code 2001, is amended to read as follows:
  1  6    A tax is imposed on the adjusted gross receipts
  1  7 received annually from gambling games authorized under
  1  8 this chapter at the rate of five percent on the first
  1  9 one million dollars of adjusted gross receipts, at the
  1 10 rate of ten percent on the next two million dollars of
  1 11 adjusted gross receipts, and at the rate of twenty
  1 12 percent on any amount of adjusted gross receipts over
  1 13 three million dollars.  However, beginning January 1,
  1 14 1997, the rate on any amount of adjusted gross
  1 15 receipts over three million dollars from gambling
  1 16 games at racetrack enclosures is twenty-two percent
  1 17 and shall increase by two percent each succeeding
  1 18 calendar year until the rate is thirty-six percent.
  1 19 However, at racetrack enclosures at which the total
  1 20 amount of adjusted gross receipts from gambling games
  1 21 annually is not more than seventy million dollars, the
  1 22 tax rate on the amount of adjusted gross receipts over
  1 23 three million dollars from gambling games is the rate
  1 24 which was in effect on December 31, 2001.  The taxes
  1 25 imposed by this section shall be paid by the licensee
  1 26 to the treasurer of state within ten days after the
  1 27 close of the day when the wagers were made and shall
  1 28 be distributed as follows:"
  1 29    #2.  Title page, line 5, by inserting after the
  1 30 word "appropriations" the following:  ", setting of
  1 31 wagering tax rate,".  
  1 32 
  1 33 
  1 34                               
  1 35 OSTERHAUS of Jackson 
  1 36 
  1 37 
  1 38                               
  1 39 ATTEBERRY of Delaware
  1 40 
  1 41 
  1 42                               
  1 43 JOCHUM of Dubuque
  1 44 
  1 45 
  1 46                               
  1 47 SCHERRMAN of Dubuque
  1 48 
  1 49 
  1 50                               
  2  1 MURPHY of Dubuque
  2  2 HF 2623.507 79
  2  3 mg/pj
     

Text: H08642                            Text: H08644
Text: H08600 - H08699                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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