92nd General Assembly
Summary of HB6280
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House Sponsors:

Short description: 
RIVERBOATS-WAGERING TAX INCR                                               

Synopsis of Bill as introduced:
        Amends the Riverboat Gambling Act. Increases the wagering tax  by      
   11%  of  annual adjusted gross receipts. Provides that an amount equal      
   to 10% of adjusted gross receipts shall be transferred from the  State      
   Gaming Fund to the General Revenue Fund. Provides that an amount equal      
   to  1%  of  adjusted gross receipts shall be paid to the unit of local      
   government that is designated as  the  home  dock  of  the  riverboat.      
   Provides  that  certain  wagering  tax revenues shall be paid into the      
   Education Assistance Fund rather than the Horse  Racing  Equity  Fund.      
   Amends the State Finance Act and the Illinois Horse Racing Act of 1975      
   to  abolish  the  Horse  Racing  Equity  Fund  and  make corresponding      
   changes.  Effective July 1, 2002.                                           
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


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