HF 2779 (LSB 6904HV (3) 91)

HOUSE FILE 2779

BY  COMMITTEE ON WAYS AND MEANS

(SUCCESSOR TO HSB 757)

A BILL FOR

An Act relating to authorizations to conduct advance deposit wagering.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 99D.11, subsection 6, paragraph c, subparagraphs (1) and (2), Code 2026, are amended to read as follows:
   (1)  The commission shall authorize the licensee of the horse racetrack located in Polk county an entity that complies with section 99D.9D to conduct advance deposit wagering. An advance deposit wager may be placed in person at a licensed racetrack enclosure, or from any other location via a telephone-type device or any other electronic means, except that an advance deposit wager shall not be placed via a telephone-type device or other electronic means from a location within five miles of a licensed racetrack enclosure unless the advance deposit wagering operator has entered into an agreement with the racetrack licensee to authorize such wagers. The commission may also issue an advance deposit wagering operator license to an entity who complies with subparagraph (3) and section 99D.8A.
   (2)  For the purposes of this section, “advance deposit wagering” means a method of pari-mutuel wagering in which an individual may establish an account, deposit money into the account, and use the account balance to pay for pari-mutuel wagering. Of the net revenue, less all taxes paid and expenses directly related to account deposit wagering incurred by the licensee of the horse racetrack located in Polk county an entity that complies with section 99D.9D, received through advance deposit wagering, fifty percent shall be designated for the horse purses created pursuant to section 99D.7, subsection 5, and fifty percent shall be designated for the licensee for the pari-mutuel horse racetrack located in Polk county entity that complies with section 99D.9D.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill relates to authorizations to conduct advance deposit wagering. The bill requires the state racing and gaming commission (commission) to authorize an entity that complies with Code section 99D.9D (alternative simulcasting licensure —— horse and dog races) to conduct advance deposit wagering. The bill prohibits an advance deposit wager from being placed via a telephone-type device or other electronic means from a location within five miles of a licensed racetrack enclosure unless the advance deposit wagering operator has entered into an agreement with the racetrack licensee to authorize such wagers. The bill strikes a requirement that the commission authorize the licensee of the horse racetrack located in Polk county to conduct advance deposit wagering. The bill designates 50 percent of associated revenue for the entity that complies with Code section 99D.9D. Under current law and the bill, an agreement with the licensee of the horse racetrack located in Polk county is required before granting an advance deposit wagering operator license.