House Amendment 8099
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 received annually each 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 13 and at the rate of twenty percent
1 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 rate
1 17 on any amount of adjusted gross receipts over three
1 18 million dollars from gambling games at racetrack
1 19 enclosures is twenty=two percent and shall increase by
1 20 two percent each succeeding calendar year until the
1 21 rate 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 36 1. 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 45 2. 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 5 3. 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 9 4. 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
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