[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_SB1200
LRB9106131LDmb
1 AN ACT to amend the Illinois Horse Racing Act of 1975 by
2 changing Section 27.1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Horse Racing Act of 1975 is
6 amended by changing Section 27.1 as follows:
7 (230 ILCS 5/27.1) (from Ch. 8, par. 37-27.1)
8 Sec. 27.1. Counties under 400,000; privilege tax.
9 (a) Except as provided in subsection (a-5), every
10 organization licensee whose track facilities are operating in
11 counties under 400,000 population on or before June 1, 1986,
12 shall be subject to a daily graduated tax of 1% of the first
13 $400,000 of daily pari-mutuel handle and 2% of such handle in
14 excess of $400,000.
15 (a-5) Beginning January 1, 2000, an organization
16 licensee whose track facility is operating in a county that
17 has a population of more than 230,000 and that is bounded by
18 the Mississippi River shall be subject to a flat privilege
19 tax at the rate of 0.75% of the daily pari-mutuel handle.
20 (b) Every inter-track wagering licensee and inter-track
21 wagering location licensee shall be subject to a daily
22 graduated tax of 1% of the first $400,000 of its daily
23 pari-mutuel handle and 2% of such handle in excess of
24 $400,000.
25 (c) Every organization licensee whose track facilities
26 are operating in counties under 400,000 population on or
27 before June 1, 1986, every inter-track wagering licensee and
28 inter-track wagering location licensee, shall pay as a
29 privilege tax on multiple wagers an amount equal to .75% of
30 all moneys wagered each day on such multiple wagers, plus an
31 additional amount equal to 2.5% of the amount wagered each
-2- LRB9106131LDmb
1 day on any other multiple wager which involves a single
2 betting interest on 3 or more horses.
3 (Source: P.A. 88-495; 89-16, eff. 5-30-95.)