Text: S05380                            Text: S05382
Text: S05300 - S05399                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 5381

Amendment Text

PAG LIN
  1  1    Amend Senate File 2327 as follows:
  1  2    #1.  By striking page 2, line 16 through page 4,
  1  3 line 34 and inserting the following:
  1  4    "Sec.    .  Section 99F.6, Code 2001, is amended by
  1  5 adding the following new subsection:
  1  6    NEW SUBSECTION.  9.  The commission shall require
  1  7 that each licensee shall contribute annually at least
  1  8 eight percent of the adjusted gross receipts received
  1  9 from gambling games to the nonprofit licensee for
  1 10 distribution to one or more educational, civic,
  1 11 public, charitable, patriotic, or religious
  1 12 organizations.
  1 13    Sec.    .  NEW SECTION.  99F.7A  PARI-MUTUEL PURSES
  1 14 AND SUPPLEMENTS.
  1 15    Notwithstanding section 99F.6, subsection 4, the
  1 16 licensees of pari-mutuel racetrack enclosures shall
  1 17 determine the annual subsidy of purses or supplements
  1 18 which shall not be less than twelve percent of the
  1 19 adjusted gross receipts from games for the preceding
  1 20 calendar year plus the total amount of pari-mutuel
  1 21 wagers on live races.
  1 22    Sec.    .  Section 99F.11, unnumbered paragraph 1,
  1 23 Code 2001, is amended to read as follows:
  1 24    A tax is imposed on the adjusted gross receipts
  1 25 received annually from gambling games authorized under
  1 26 this chapter at the rate of five percent on the first
  1 27 one million dollars of adjusted gross receipts, at the
  1 28 rate of ten percent on the next two million dollars of
  1 29 adjusted gross receipts, and at the rate of twenty
  1 30 twenty-eight percent on any amount of adjusted gross
  1 31 receipts over three million dollars.  However,
  1 32 beginning January 1, 1997, the rate on any amount of
  1 33 adjusted gross receipts over three million dollars
  1 34 from gambling games at racetrack enclosures is twenty-
  1 35 two percent and shall increase by two percent each
  1 36 succeeding calendar year until the rate is thirty-six
  1 37 percent.  The taxes imposed by this section shall be
  1 38 paid by the licensee to the treasurer of state within
  1 39 ten days after the close of the day when the wagers
  1 40 were made and shall be distributed as follows:"
  1 41    #2.  By renumbering as necessary.  
  1 42 
  1 43 
  1 44                               
  1 45 DENNIS BLACK
  1 46 SF 2327.502 79
  1 47 tj/pj
     

Text: S05380                            Text: S05382
Text: S05300 - S05399                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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