Synopsis of Bill as introduced:
Amends the Horse Racing Act of 1975. Makes technical changes in
a Section concerning the short title.
SENATE AMENDMENT NO. 1.
Deletes reference to:
230 ILCS 5/1
Adds reference to:
230 ILCS 5/34.2 new
Deletes everything. Amends the Illinois Horse Racing Act of 1975.
Authorizes 2 or more organization licensees to consolidate into a
single consolidated organization licensee. Provides that a
consolidated organization licensee shall be entitled to all of the
rights, powers, and benefits that would have accrued to the
organization licensees if they had not consolidated, regardless of
whether all or a portion of a pre-consolidation licensee are sold,
transferred, or not utilized. Provides that a consolidated
organization licensee shall be required to pay the same taxes and fees
as other similarly situated organization licensees. Provides that, if
a consolidated organization licensee does not use at least a portion
of the facilities of one of the organization licensees that was
consolidated for the conduct of an activity authorized under the Act,
the pari-mutuel tax credit for those unused facilities shall be
extinguished. Effective immediately.
PENSION IMPACT NOTE (Illinois Pension Laws Commission)
SB 2291 would not increase the accrued liabilities or annual
costs of any Illinois public pension fund or retirement system.
CORRECTIONS BUDGET AND IMPACT NOTE (Illinois Department of
Senate Bill 2291 has no impact on the Department of Corrections
because there are no new criminal offenses or increased penalty
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status