Text: H08100 Text: H08102 Text: H08100 - H08199 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 chapterat the rate of five1 10percent on the first one million dollars of adjusted1 11gross receipts, at the rate of ten percent on the next1 12two million dollars of adjusted gross receipts, and at1 13the rate of twenty percent on any amount of adjusted1 14gross receipts over three million dollars. However,1 15beginning January 1, 1997, the rate on any amount of1 16adjusted gross receipts over three million dollars1 17from gambling games at racetrack enclosures is twenty-1 18two percent and shall increase by two percent each1 19succeeding calendar year until the rate is thirty-six1 20percentpursuant to the requirements of this section. 1 21 The tax rate imposed each fiscal year on adjusted 1 22 gross receipts shall be as follows: 1 23 a. On the first fifteen million dollars of 1 24 adjusted gross receipts, twenty-one percent. 1 25 b. On the next fifteen million dollars of adjusted 1 26 gross receipts, twenty-two percent. 1 27 c. On the next fifteen million dollars of adjusted 1 28 gross receipts, twenty-three percent. 1 29 d. On the next fifteen million dollars of adjusted 1 30 gross receipts, twenty-four percent. 1 31 e. On any amount of adjusted gross receipts over 1 32 sixty million dollars, twenty-five percent. 1 33 2. The taxes imposed by this section shall be paid 1 34 by the licensee to the treasurer of state within ten 1 35 days after the close of the day when the wagers were 1 36 made and shall be distributed as follows: 1 371.a. If the gambling excursion originated at a 1 38 dock located in a city, one-half of one percent of the 1 39 adjusted gross receipts shall be remitted to the 1 40 treasurer of the city in which the dock is located and 1 41 shall be deposited in the general fund of the city. 1 42 Another one-half of one percent of the adjusted gross 1 43 receipts shall be remitted to the treasurer of the 1 44 county in which the dock is located and shall be 1 45 deposited in the general fund of the county. 1 462.b. If the gambling excursion originated at a 1 47 dock located in a part of the county outside a city, 1 48 one-half of one percent of the adjusted gross receipts 1 49 shall be remitted to the treasurer of the county in 1 50 which the dock is located and shall be deposited in 2 1 the general fund of the county. Another one-half of 2 2 one percent of the adjusted gross receipts shall be 2 3 remitted to the treasurer of the Iowa city nearest to 2 4 where the dock is located and shall be deposited in 2 5 the general fund of the city. 2 63.c. Three-tenths of one percent of the adjusted 2 7 gross receipts shall be deposited in the gambling 2 8 treatment fund specified in section 99G.39, subsection 2 9 1, paragraph "a". 2 104.d. The remaining amount of the adjusted gross 2 11 receipts tax shall be credited to the general fund of 2 12 the state." 2 13 #2. Title page, by striking lines 1 through 9 and 2 14 inserting the following: "An Act relating to the 2 15 payment of taxes from adjusted gross receipts from 2 16 gambling games on excursion gambling boats and at 2 17 racetrack enclosures." 2 18 2 19 2 20 2 21 JOCHUM of Dubuque 2 22 HF 2302.713 80 2 23 ec/gg
Text: H08100 Text: H08102 Text: H08100 - H08199 Text: H Index Bills and Amendments: General Index Bill History: General Index
© 2004 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Feb 24 03:30:46 CST 2004
URL: /DOCS/GA/80GA/Legislation/H/08100/H08101/040223.html
jhf