1. A person conducting a boxing or wrestling match in this state shall, within twenty days after the match, furnish to the commissioner a written report, duly verified, showing the number of tickets sold for the boxing or wrestling match, and the amount of gross proceeds of the boxing or wrestling match, and other matters the commissioner may prescribe; and shall also within the same time period pay to the treasurer of state a tax of five percent of its total gross receipts, after deducting state sales tax, from the sale of tickets of admission to the boxing or wrestling match.
2. Moneys collected pursuant to subsection 1 in excess of the amount of moneys needed to administer this chapter are appropriated and shall be used by the state commissioner of athletics to award grants to organizations which promote amateur boxing matches in this state.
3. The state commissioner of athletics shall adopt rules pursuant to chapter 17A to establish procedures for the submission of applications for grants to be awarded pursuant to subsection 2, and for the awarding of grants pursuant to subsection 2.
4. An advisory board composed of three members of the golden gloves association of America, incorporated---Iowa branch, appointed by the association, and three members of the United States of America amateur boxing federation---Iowa branch, appointed by the federation, shall advise the state commissioner of athletics regarding the awarding of grants pursuant to subsection 2.
[C71, 73, 75, 77, § 727A.7; C79, 81, § 99C.7]
86 Acts, ch 1245, § 944 ~IC87, § 90A.7 ~I90 Acts, ch 1266, § 38; 91 Acts, ch 137, § 4; 92 Acts, ch 1032, § 1
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