House File 72HOUSE FILE BY KAUFMANN, WORTHAN, BAUDLER, DOLECHECK, RASMUSSEN, MAY, S. OLSON, DRAKE, TJEPKES, HEATON, RAECKER, LUKAN, DE BOEF, HUSEMAN, DEYOE, ALONS, HOFFMAN, PAULSEN, GRASSLEY, SODERBERG, and GRANZOW Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act concerning the allocation of gambling tax revenues to the 2 county endowment fund. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 1477YH 82 5 ec/je/5 PAG LIN 1 1 Section 1. Section 99F.11, subsection 3, paragraph d, Code 1 2 2005, as amended by 2006 Iowa Acts, chapter 1151, section 6, 1 3 is amended to read as follows: 1 4 d. Eight=tenths of oneOne and one=tenth percent of the 1 5 adjusted gross receipts tax shall be deposited in the county 1 6 endowment fund created in section 15E.311. 1 7 EXPLANATION 1 8 This bill increases from 0.8 percent to 1.1 percent the 1 9 percentage of adjusted gross receipts tax from gambling games 1 10 at excursion gambling boats and racetracks beginning July 1, 1 11 2007, that go to the county endowment fund. Current law 1 12 provides for an increase from 0.5 percent to 0.8 percent of 1 13 adjusted gross receipts going to this fund beginning July 1, 1 14 2007. 1 15 LSB 1477YH 82 1 16 ec:rj/je/5