House Study Bill 178 



                                       HOUSE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            STATE GOVERNMENT BILL BY
                                            CHAIRPERSON MASCHER)


    Passed House, Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act concerning audits conducted by a licensee conducting
  2    pari=mutuel wagering and providing an effective date.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2348HC 83
  5 ec/nh/14

PAG LIN



  1  1    Section 1.  Section 99D.20, Code 2009, is amended to read
  1  2 as follows:
  1  3    99D.20  AUDIT OF LICENSEE OPERATIONS.
  1  4    Within ninety days after the end of each race meeting
  1  5 calendar year, the licensee shall transmit to the commission
  1  6 an audit of the financial transactions and condition of the
  1  7 licensee's operations conducted under this chapter.
  1  8 Additionally, within ninety days after the end of the
  1  9 licensee's fiscal year, the licensee shall transmit to the
  1 10 commission an audit of the licensee's total racing and gaming
  1 11 operations, including an itemization of all expenses and
  1 12 subsidies.  All audits shall be conducted by certified public
  1 13 accountants registered in the state of Iowa under chapter 542
  1 14 who are selected by the board of supervisors of the county in
  1 15 which the licensee operates.
  1 16    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  1 17 immediate importance, takes effect upon enactment.
  1 18                           EXPLANATION
  1 19    This bill provides that a licensee to conduct pari=mutuel
  1 20 wagering shall transmit to the racing and gaming commission an
  1 21 audit of the financial transactions and condition of the
  1 22 licensee's operations 90 days after the end of each calendar
  1 23 year instead of 90 days after the end of each race meeting.
  1 24    The bill takes effect upon enactment.
  1 25 LSB 2348HC 83
  1 26 ec/nh/14