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".