92nd General Assembly
Summary of SB2291
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Senate Sponsors:

House Sponsors:

Short description: 

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

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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