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90_SB0290
230 ILCS 10/13 from Ch. 120, par. 2413
Amends the Riverboat Gambling Act. Changes the wagering
tax rate from a flat 20% rate to a graduated tax rate.
Provides that a portion of the wagering tax collected under
the Act shall be used to fund the Teacher Health Insurance
Security Fund. Effective July 1, 1997.
LRB9002094LDcw
LRB9002094LDcw
1 AN ACT to amend the Riverboat Gambling Act by changing
2 Section 13.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Riverboat Gambling Act is amended by
6 changing Section 13 as follows:
7 (230 ILCS 10/13) (from Ch. 120, par. 2413)
8 Sec. 13. Wagering tax; Rate; Distribution.
9 (a) Until January 1, 1998, a tax is imposed on the
10 adjusted gross receipts received from gambling games
11 authorized under this Act at the rate of 20%. Commencing
12 January 1, 1998, a graduated tax is imposed on the adjusted
13 gross receipts received from gambling games authorized under
14 this Act at the rate of 15% of annual adjusted gross receipts
15 up to and including $25,000,000, 20% of annual adjusted gross
16 receipts greater than $25,000,000 but no greater than
17 $50,000,000, 25% of annual adjusted gross receipts greater
18 than $50,000,000 but no greater than $75,000,000, 30% of
19 annual adjusted gross receipts greater than $75,000,000 but
20 no greater than $100,000,000, and 35% of annual adjusted
21 gross receipts greater than $100,000,000. The taxes imposed
22 by this Section shall be paid by the licensed owner to the
23 Board after the close of the day when the wagers were made.
24 (b) Twenty-five percent (25%) of the tax revenue
25 deposited in the State Gaming Fund under this Section shall
26 be paid, subject to appropriation by the General Assembly, to
27 the unit of local government which is designated as the home
28 dock of the riverboat.
29 (c) Appropriations, as approved by the General Assembly,
30 may be made from the State Gaming Fund to the Department of
31 Revenue and the Department of State Police for the
-2- LRB9002094LDcw
1 administration and enforcement of this Act.
2 (c-5) On January 1, 1998, and on January 1 of each year
3 thereafter, the Board shall transfer an amount certified by
4 the Board of Trustees of the Teachers' Retirement System
5 under Section 6.6(c) of the State Employees Group Insurance
6 Act of 1971 to the General Revenue Fund.
7 (d) From time to time, the Board shall transfer the
8 remainder of the funds generated by this Act into the
9 Education Assistance Fund, created by Public Act 86-0018, of
10 the State of Illinois.
11 (e) Nothing in this Act shall prohibit the unit of local
12 government designated as the home dock of the riverboat from
13 entering into agreements with other units of local government
14 in this State or in other states to share its portion of the
15 tax revenue.
16 (Source: P.A. 88-670, eff. 12-2-94; 89-21, eff. 7-1-95.)
17 Section 99. Effective date. This Act takes effect July
18 1, 1997.