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92_HB0291ham001
LRB9203788LDcsam
1 AMENDMENT TO HOUSE BILL 291
2 AMENDMENT NO. . Amend House Bill 291 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Riverboat Gambling Act is amended by
5 adding Section 13.2 as follows:
6 (230 ILCS 10/13.2 new)
7 Sec. 13.2. Supplemental tax on adjusted gross income.
8 (a) Beginning January 1, 2002, a tax is imposed on the
9 annual adjusted gross income of an owners licensee in an
10 amount equal to 80% of the adjusted gross income of the
11 licensee. The tax imposed under this Section is in addition
12 to any other taxes imposed under this Act and shall be
13 deposited into the State Gaming Fund. The tax shall be paid
14 annually, on or before February 15th of each year.
15 (b) For the purposes of this Section, the term "adjusted
16 gross income" means the total gross receipts of a licensee
17 minus:
18 (1) winnings paid to wagerers;
19 (2) operating expenses of the licensee;
20 (3) all taxes imposed pursuant to Sections 12 and
21 13 of this Act;
22 (4) depreciation of the licensee's gambling
-2- LRB9203788LDcsam
1 operation-related assets; and
2 (5) any contribution that the licensee is required
3 to pay directly to a local governmental entity in
4 relation to the conduct of riverboat gambling
5 operations.".