HB0916ham001 94TH GENERAL ASSEMBLY

Agriculture & Conservation Committee

Filed: 3/1/2005

09400HB0916ham001 LRB094 06757 AMC 42438 a

AMENDMENT TO HOUSE BILL 916

AMENDMENT NO. ______. Amend House Bill 916 by replacing everything after the enacting clause with the following:

"Section 5. The Illinois Horse Racing Act of 1975 is amended by adding Section 32.2 as follows:

(230 ILCS 5/32.2 new)

Sec. 32.2. Pari-mutuel tax credit; recapture. If the General Assembly fails to appropriate the moneys required to be appropriated to the Department of Agriculture under item (13) of subsection (g) of Section 26 of this Act by December 31 of each year, then each licensee shall receive an immediate pari-mutuel tax credit in an amount equal to the amount certified by the Illinois Racing Board in January for that year for any wagering facility for which the recapture was authorized. Any pari-mutuel tax credit amount certified by the board and taken as a tax credit shall not be taken from the horsemen's purse account.

The Board may adopt any rules necessary to administer this Section.

Section 99. Effective date. This Act takes effect upon becoming law.".