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92_HB4605sam001 SRS92HB4605SWbmam01 1 AMENDMENT TO HOUSE BILL 4605 2 AMENDMENT NO. . Amend House Bill 4605 by replacing 3 everything after the enacting clause with the following: 4 "Section 3. The Illinois Horse Racing Act of 1975 is 5 amended by adding Section 34.2 as follows: 6 (230 ILCS 5/34.2 new) 7 Sec. 34.2. Racetrack consolidation. 8 (a) Findings. The General Assembly finds that 9 encouraging organization licensees to consolidate will be 10 beneficial to the horse racing industry. The General 11 Assembly declares it to be the public policy of this State to 12 enhance the viability of the horse racing industry by 13 encouraging organization licensees to consolidate and not be 14 penalized or lose any rights, benefits, or powers by reason 15 of such consolidation. 16 (b) Consolidation. Notwithstanding any provision of 17 this Act to the contrary, if 2 or more existing organization 18 licensees consolidate into a single organization licensee or 19 otherwise form a joint venture, corporation, limited 20 liability company, or similar consolidated enterprise 21 (consolidated organization licensee) whereby the consolidated 22 organization licensee makes application or joint application, -2- SRS92HB4605SWbmam01 1 as the case may be, as a single organization licensee, or 2 such existing licensees, after consolidation, make separate 3 applications in the names of such pre-existing licensees, the 4 newly consolidated organization licensee or each such 5 separate pre-existing licensee shall thereafter retain and be 6 entitled to all of the rights, benefits, and powers under 7 this Act that would have otherwise accrued to each such 8 individual pre-consolidation organization licensee but for 9 such consolidation, regardless of whether all or a portion of 10 the facilities of a pre-consolidation licensee are sold, 11 transferred, or otherwise cease to be utilized by the newly 12 consolidated organization licensee or either of the 13 pre-existing licensees. Such multiple rights, benefits, and 14 powers shall include, but not be limited to: 15 (1) the authority to make application for and 16 receive, within the discretion of the Board, racing 17 dates, including host track days, in the same manner as 18 the individual pre-consolidation organization licensees 19 and the racetracks from which the organization licensees 20 derive their licenses; 21 (2) the right to retain the existing inter-track 22 wagering licenses and inter-track wagering location 23 licenses of the individual pre-consolidation organization 24 licensees and the racetracks from which the organization 25 licensees derive their licenses, and the authority to 26 make application for future inter-track wagering licenses 27 and inter-track wagering location licenses in the same 28 manner as each individual pre-consolidation organization 29 licensee and the racetracks from which each 30 pre-consolidation organization licensee derives its 31 license, had or has in its own right; 32 (3) the right to receive the benefits under 33 paragraph (13) of subsection (g) of Section 26 and 34 Section 54 of this Act in the same manner as the -3- SRS92HB4605SWbmam01 1 individual pre-consolidation organization licensees and 2 the racetracks from which the organization licensees 3 derive their licenses each had or has in its own right; 4 and 5 (4) all existing and future rights, benefits, and 6 powers that the individual pre-consolidation organization 7 licensees and the racetracks from which the organization 8 licensees derive their licenses would have had or 9 received but for the consolidation. 10 The newly consolidated organization licensee shall be 11 subject to such taxation and fees as other similarly situated 12 organization licensees. 13 (c) Pari-mutuel tax credit. If 2 or more organization 14 licensees and the racetracks from which the organization 15 licensees derive their licenses consolidate pursuant to this 16 Section, the consolidated organization licensee or separate 17 pre-consolidation licensees shall have 6 months to decide 18 whether it or they will continue to receive the entire 19 pari-mutuel tax credit under Section 32.1 that the 20 organization licensees and the racetracks from which the 21 organization licensees derive their licenses would have been 22 entitled to if they had not consolidated. Once made, this 23 decision is irrevocable. 24 To retain the entire pari-mutuel tax credit, the 25 consolidated organization licensee and the racetracks from 26 which the consolidated organization licensee derives its 27 licenses or separate pre-existing licensees must conduct 28 activities authorized under this Act at some or all of the 29 facilities that were operated by the organization licensees 30 prior to the consolidation. 31 If a consolidated organization licensee or separate 32 pre-existing licensee that elects to retain the entire 33 pari-mutuel tax credit does not conduct any activity 34 authorized under this Act at any of the facilities that -4- SRS92HB4605SWbmam01 1 belonged to one of the organization licensees that 2 consolidated under this Section in a calendar year, the 3 consolidated organization licensee or separate pre-existing 4 licensee shall not receive the pari-mutuel tax credit for 5 those facilities at which no operations authorized by this 6 Act are conducted in that calendar year nor in any year 7 thereafter. 8 Notwithstanding any provision in subsection (b) to the 9 contrary, if 2 or more organization licensees consolidate 10 pursuant to this Section and do not use any portion of the 11 facilities of a pre-consolidation organization licensee, the 12 consolidated organization licensee shall receive the 13 pari-mutuel tax credit for the facilities of that 14 pre-consolidation organization licensee only until December 15 31st of the second full calendar year following consolidation 16 as to tax bills payable during such years.
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