Illinois General Assembly - Full Text of SB0744
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Full Text of SB0744  97th General Assembly

SB0744ham007 97TH GENERAL ASSEMBLY

Rep. Lou Lang

Filed: 5/29/2011

 

 


 

 


 
09700SB0744ham007LRB097 04465 ASK 56562 a

1
AMENDMENT TO SENATE BILL 744

2    AMENDMENT NO. ______. Amend Senate Bill 744, AS AMENDED,
3with reference to page and line numbers of House Amendment No.
41 as follows:
 
5on page 15, line 23, by replacing "the total amount" with "any
6initial consideration"; and
 
7on page 15, line 24, after "Authority", by inserting "that was
8paid as an inducement"; and
 
9on page 16, line 1, after "Fund.", by inserting "The initial
10consideration shall not include any amounts paid by an entity
11on behalf of the Authority for any license or per position fees
12imposed pursuant to the Illinois Gambling Act or any other
13financial obligation of the Authority."; and
 
14on page 300, line 20, after "utilized.", by inserting

 

 

09700SB0744ham007- 2 -LRB097 04465 ASK 56562 a

1"Consistent with the provisions contained in this subsection
2(e-25), the owners licensee shall be treated as having paid the
3amount of taxes due under Sections 12 and 13 without reduction
4for the credit granted in this subsection (e-25), and the
5amount of such credit shall be considered a refund of the
6owners licensee bid amount as such credit is utilized."; and
 
7on page 343, line 2, after "riverboat", by inserting "or
8casino"; and
 
9on page 343, by replacing lines 22 and 23 with the following:
10        "44% of annual adjusted gross receipts in excess of
11    $200,000,000 but not exceeding $300,000,000;
12        30% of annual adjusted gross receipts in excess of
13    $300,000,000 but not exceeding $350,000,000;
14        20% of annual adjusted gross receipts in excess of
15    $350,000,000."; and
 
16on page 344, line 13, after "riverboat", by inserting "or
17casino"; and
 
18on page 345, by replacing lines 8 through 9 with the following:
19        "40% of annual adjusted gross receipts in excess of
20    $200,000,000 but not exceeding $300,000,000;
21        30% of annual adjusted gross receipts in excess of
22    $300,000,000 but not exceeding $350,000,000;

 

 

09700SB0744ham007- 3 -LRB097 04465 ASK 56562 a

1        20% of annual adjusted gross receipts in excess of
2    $350,000,000."; and
 
3by deleting line 24 on page 345 through line 9 on page 348; and
 
4on page 350, by replacing line 14 with the following:
5    "(a-9) Beginning on January 1, 2012, the"; and
 
6on page 350, by replacing lines 25 and 26 with "calculation,
7the effect of the tax rates in".