Senate File 305 - Enrolled




                                             SENATE FILE 305

                             AN ACT
 CONCERNING AUDITS CONDUCTED BY A LICENSEE CONDUCTING PARI=
    MUTUEL WAGERING OR GAMBLING GAMES AND PROVIDING AN EFFECTIVE
    DATE.

 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 99D.20, Code 2009, is amended to read
 as follows:
    99D.20  AUDIT OF LICENSEE OPERATIONS.
    Within ninety days after the end of each race meeting
 calendar year, the licensee shall transmit to the commission
 an audit of the financial transactions and condition of the
 licensee's operations conducted under this chapter.
 Additionally, within ninety days after the end of the
 licensee's fiscal year, the licensee shall transmit to the
 commission an audit of the licensee's total racing and gaming
 operations, including an itemization of all expenses and
 subsidies.  All audits shall be conducted by certified public
 accountants registered authorized to practice in the state of
 Iowa under chapter 542 who are selected by the board of
 supervisors of the county in which the licensee operates.
    Sec. 2.  Section 99F.13, Code 2009, is amended to read as
 follows:
    99F.13  ANNUAL AUDIT OF LICENSEE OPERATIONS.
    Within ninety days after the end of the licensee's fiscal
 year, the licensee shall transmit to the commission an audit
 of the licensee's total gambling operations, including an
 itemization of all expenses and subsidies.  All audits shall
 be conducted by certified public accountants registered or
 licensed authorized to practice in the state of Iowa under
 chapter 542 who are selected by the board of supervisors of
 the county in which the licensee operates.
    Sec. 3.  EFFECTIVE DATE.  This Act, being deemed of
 immediate importance, takes effect upon enactment.


                                                             
                               JOHN P. KIBBIE
                               President of the Senate


                                                             
                               PATRICK J. MURPHY
                               Speaker of the House

    I hereby certify that this bill originated in the Senate and
 is known as Senate File 305, Eighty=third General Assembly.


                                                             
                               MICHAEL E. MARSHALL
                               Secretary of the Senate
 Approved                , 2009


                                
 CHESTER J. CULVER
 Governor

                             -1-