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Agriculture & Conservation Committee
Filed: 3/1/2005
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09400HB0916ham001 |
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LRB094 06757 AMC 42438 a |
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| AMENDMENT TO HOUSE BILL 916
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| AMENDMENT NO. ______. Amend House Bill 916 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Illinois Horse Racing Act of 1975 is |
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| amended by adding Section 32.2 as follows:
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| (230 ILCS 5/32.2 new)
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| Sec. 32.2. Pari-mutuel tax credit; recapture. If the |
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| General Assembly fails to appropriate the moneys required to be |
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| appropriated to the Department of Agriculture under item (13) |
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| of subsection (g) of Section 26 of this Act by December 31 of |
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| each year, then each licensee shall receive an immediate |
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| pari-mutuel tax credit in
an amount equal to the amount |
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| certified by the Illinois Racing Board in January for that year |
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| for any wagering facility for which the recapture was |
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| authorized. Any pari-mutuel tax credit amount certified by the |
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| board and taken as a tax credit shall not be taken from the |
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| horsemen's purse account. |
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| The Board may adopt any rules necessary to administer this |
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| Section.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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