91st General Assembly
Summary of SB1194
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Senate Sponsors:
WATSON.

Short description: 
HORSE RACING-HANDLE SPLIT                                                  

Synopsis of Bill as introduced:
        Amends the Use Tax Act, the Service  Use  Tax  Act,  the  Service      
   Occupation  Tax  Act, and the Retailers' Occupation Tax Act to provide      
   that horses used for racing under the Illinois  Horse  Racing  Act  of      
   1975  and  the  equipment  used to raise them are exempt from taxation      
   under those Acts. Amends  the  Illinois  Horse  Racing  Act  of  1975.      
   Replaces  the privilege tax with a flat pari-mutuel tax, but retains a      
   privilege tax for moneys received by an organization licensee  from  a      
   pari-mutuel  pool  with an out-of-State entity.  Changes the basis for      
   payments pursuant to recapture provisions.  Provides that the  General      
   Assembly shall appropriate moneys from the General Revenue Fund to the      
   Department  of  Agriculture  to  reimburse the Department for payments      
   made pursuant to recapture provisions.  Increases  the  amount  to  be      
   appropriated  from  the Agricultural Premium Fund to the Department of      
   Agriculture to be used to supplement the  purses  and  other  expenses      
   connected  with  the Hambletonian Stakes.  Changes the distribution of      
   moneys  retained  by  inter-track  wagering  location  licensees  from      
   inter-track wagering  between  the  licensees  and  purses.  Effective      
   January 1, 2000.                                                            
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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