Senate
Study
Bill
1256
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
STATE
GOVERNMENT
BILL
BY
CHAIRPERSON
DANIELSON)
A
BILL
FOR
An
Act
requiring
the
racing
and
gaming
commission
to
conduct
a
1
study
on
exchange
wagering.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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_____
Section
1.
RACING
AND
GAMING
COMMISSION
——
EXCHANGE
1
WAGERING
STUDY.
2
1.
The
state
racing
and
gaming
commission
shall
conduct
3
a
study
concerning
the
possible
authorization
of
exchange
4
wagering,
a
form
of
wagering
in
which
two
or
more
persons
place
5
identically
opposing
wagers
in
a
given
market,
as
a
form
of
6
pari-mutuel
wagering
in
Iowa.
The
study
shall
consider
the
7
current
state
of
pari-mutuel
wagering
in
Iowa,
the
potential
8
revenue
impact
of
authorizing
exchange
wagering,
the
possible
9
regulatory
framework
necessary
if
exchange
wagering
is
10
authorized
for
licensees
regulated
under
chapter
99D,
including
11
any
necessary
consumer
protections,
the
manner
of
collecting
12
wagering
taxes
for
exchange
wagering,
and
the
general
impact
13
of
authorizing
exchange
wagering
as
a
form
of
pari-mutuel
14
wagering.
15
2.
In
conducting
the
study,
the
commission
shall
consult
16
with
the
Iowa
horsemen’s
benevolent
and
protective
association,
17
and
may
consult
with
the
horse
racetrack
located
in
Polk
county
18
and
any
other
parties
the
commission
deems
necessary.
19
3.
The
commission
shall
submit
a
written
report
on
its
20
findings
to
the
general
assembly
by
December
1,
2015.
The
21
commission
is
not
required
to
make
specific
recommendations
22
regarding
the
legalization
of
exchange
wagering
in
Iowa.
The
23
cost
of
the
study
shall
be
treated
as
an
additional
cost
to
the
24
racing
and
gaming
commission.
25
EXPLANATION
26
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
27
the
explanation’s
substance
by
the
members
of
the
general
assembly.
28
This
bill
requires
the
state
racing
and
gaming
commission
29
to
conduct
a
study
on
the
possibility
of
authorizing
exchange
30
wagering
as
a
form
of
pari-mutuel
wagering
in
Iowa.
The
31
bill
requires
the
commission
to
consider
the
financial
and
32
regulatory
impact
of
allowing
exchange
wagering
in
conducting
33
the
study.
The
bill
requires
the
commission
to
submit
a
report
34
on
its
findings
to
the
general
assembly
by
December
1,
2015.
35
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