Agriculture & Conservation Committee

Filed: 3/1/2005

 

 


 

 


 
09400HB0916ham001 LRB094 06757 AMC 42438 a

1
AMENDMENT TO HOUSE BILL 916

2     AMENDMENT NO. ______. Amend House Bill 916 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Illinois Horse Racing Act of 1975 is
5 amended by adding Section 32.2 as follows:
 
6     (230 ILCS 5/32.2 new)
7     Sec. 32.2. Pari-mutuel tax credit; recapture. If the
8 General Assembly fails to appropriate the moneys required to be
9 appropriated to the Department of Agriculture under item (13)
10 of subsection (g) of Section 26 of this Act by December 31 of
11 each year, then each licensee shall receive an immediate
12 pari-mutuel tax credit in an amount equal to the amount
13 certified by the Illinois Racing Board in January for that year
14 for any wagering facility for which the recapture was
15 authorized. Any pari-mutuel tax credit amount certified by the
16 board and taken as a tax credit shall not be taken from the
17 horsemen's purse account.
18     The Board may adopt any rules necessary to administer this
19 Section.
 
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.".