Illinois General Assembly - Full Text of HB4323
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Full Text of HB4323  99th General Assembly

HB4323ham002 99TH GENERAL ASSEMBLY

Rep. Michael J. Zalewski

Filed: 4/20/2016

 

 


 

 


 
09900HB4323ham002LRB099 15007 JLS 47927 a

1
AMENDMENT TO HOUSE BILL 4323

2    AMENDMENT NO. ______. Amend House Bill 4323, AS AMENDED,
3with reference to page and line numbers of House Amendment No.
41, as follows:
 
5on page 18 by replacing line 19 with the following:
 
6    "(a) From individual winnings of $600 or more which are
7subject to reporting to the Internal"; and
 
8on page 19 by replacing lines 2 and 3 with the following:
 
9"Services by the fantasy sports contest operator, as
10applicable. This process shall be accomplished as provided in
1189 Ill. Adm. Code 160.70(q).
12    (b) For withholding of winnings, the fantasy sports contest
13operator shall be entitled to an administrative fee not to
14exceed the lesser of 4% of the total amount of cash winnings

 

 

09900HB4323ham002- 2 -LRB099 15007 JLS 47927 a

1paid to the fantasy sports player or $150.
2    (c) In no event shall the total amount withheld from the";
3and
 
4on page 19, line 9, by changing "(c)" to "(d)"; and
 
5on page 19, line 26, by changing "(d)" to "(e)"; and
 
6on page 20, line 3, by changing "(e)" to "(f)"; and
 
7on page 20, line 11, by changing "(f)" to "(g)"; and
 
8on page 20, line 15, by changing "(g)" to "(h)"; and
 
9on page 25, line 21, by replacing "greater than" with "of at
10least"; and
 
11on page 26, line 12, by replacing "greater than" with "of at
12least"; and
 
13on page 27, line 3, by replacing "greater than" with "of at
14least"; and
 
15on page 30, line 23, by replacing "up" with "or, in the case of
16a fantasy sports contest operator, the ability to withhold from
17individual winnings of $600 or more which are subject to

 

 

09900HB4323ham002- 3 -LRB099 15007 JLS 47927 a

1reporting to the Internal Revenue Service on Form 1099, up".