Text: H08098 Text: H08100 Text: H08000 - H08099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2302 as follows: 1 2 #1. By striking everything after the enacting 1 3 clause and inserting the following: 1 4 "Section 1. Section 99F.11, Code Supplement 2003, 1 5 is amended to read as follows: 1 6 99F.11 WAGERING TAX – RATE – ALLOCATIONS. 1 7 1. A tax is imposed on the adjusted gross receipts 1 8 receivedannuallyeach fiscal year from gambling games 1 9 authorized under this chapter at the rate of five 1 10 percent on the first one million dollars of adjusted 1 11 gross receipts,and at the rate of ten percent on the 1 12 next two million dollars of adjusted gross receipts.,1 13and at the rate of twenty percent1 14 2. The tax rate imposed each fiscal year on any 1 15 amount of adjusted gross receipts over three million 1 16 dollars. However, beginning January 1, 1997, the rate1 17on any amount of adjusted gross receipts over three1 18million dollars from gambling games at racetrack1 19enclosures is twenty-two percent and shall increase by1 20two percent each succeeding calendar year until the1 21rate is thirty-six percent.shall be as follows: 1 22 a. On the next fifteen million dollars of adjusted 1 23 gross receipts, twenty-one percent. 1 24 b. On the next fifteen million dollars of adjusted 1 25 gross receipts, twenty-two percent. 1 26 c. On the next fifteen million dollars of adjusted 1 27 gross receipts, twenty-three percent. 1 28 d. On the next fifteen million dollars of adjusted 1 29 gross receipts, twenty-four percent. 1 30 e. On any amount of adjusted gross receipts over 1 31 sixty-three million dollars, twenty-five percent. 1 32 3. The taxes imposed by this section shall be paid 1 33 by the licensee to the treasurer of state within ten 1 34 days after the close of the day when the wagers were 1 35 made and shall be distributed as follows: 1 361.a. If the gambling excursion originated at a 1 37 dock located in a city, one-half of one percent of the 1 38 adjusted gross receipts shall be remitted to the 1 39 treasurer of the city in which the dock is located and 1 40 shall be deposited in the general fund of the city. 1 41 Another one-half of one percent of the adjusted gross 1 42 receipts shall be remitted to the treasurer of the 1 43 county in which the dock is located and shall be 1 44 deposited in the general fund of the county. 1 452.b. If the gambling excursion originated at a 1 46 dock located in a part of the county outside a city, 1 47 one-half of one percent of the adjusted gross receipts 1 48 shall be remitted to the treasurer of the county in 1 49 which the dock is located and shall be deposited in 1 50 the general fund of the county. Another one-half of 2 1 one percent of the adjusted gross receipts shall be 2 2 remitted to the treasurer of the Iowa city nearest to 2 3 where the dock is located and shall be deposited in 2 4 the general fund of the city. 2 53.c. Three-tenths of one percent of the adjusted 2 6 gross receipts shall be deposited in the gambling 2 7 treatment fund specified in section 99G.39, subsection 2 8 1, paragraph "a". 2 94.d. The remaining amount of the adjusted gross 2 10 receipts tax shall be credited to the general fund of 2 11 the state." 2 12 #2. Title page, by striking lines 1 through 9 and 2 13 inserting the following: "An Act relating to the 2 14 payment of taxes from adjusted gross receipts from 2 15 gambling games on excursion gambling boats and at 2 16 racetrack enclosures." 2 17 2 18 2 19 2 20 JOCHUM of Dubuque 2 21 HF 2302.221 80 2 22 ec/sh
Text: H08098 Text: H08100 Text: H08000 - H08099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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