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 eachrace meeting1 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