Full Text of SB0744 97th General Assembly
SB0744ham007 97TH GENERAL ASSEMBLY | Rep. Lou Lang Filed: 5/29/2011
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| 1 | | AMENDMENT TO SENATE BILL 744
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 744, AS AMENDED, | 3 | | with reference to page and line numbers of House Amendment No. | 4 | | 1 as follows:
| 5 | | on page 15, line 23, by replacing "the total amount" with "any | 6 | | initial consideration"; and | 7 | | on page 15, line 24, after "Authority", by inserting "that was | 8 | | paid as an inducement"; and | 9 | | on page 16, line 1, after "Fund.", by inserting "The initial | 10 | | consideration shall not include any amounts paid by an entity | 11 | | on behalf of the Authority for any license or per position fees | 12 | | imposed pursuant to the Illinois Gambling Act or any other | 13 | | financial obligation of the Authority."; and | 14 | | on page 300, line 20, after " utilized. ", by inserting |
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| 1 | | " Consistent with the provisions contained in this subsection | 2 | | (e-25), the owners licensee shall be treated as having paid the | 3 | | amount of taxes due under Sections 12 and 13 without reduction | 4 | | for the credit granted in this subsection (e-25), and the | 5 | | amount of such credit shall be considered a refund of the | 6 | | owners licensee bid amount as such credit is utilized. "; and | 7 | | on page 343, line 2, after " riverboat ", by inserting " or | 8 | | casino "; and | 9 | | on 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 | 16 | | on page 344, line 13, after " riverboat ", by inserting " or | 17 | | casino "; and | 18 | | on 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; |
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| 1 | | 20% of annual adjusted gross receipts in excess of | 2 | | $350,000,000. "; and | 3 | | by deleting line 24 on page 345 through line 9 on page 348; and | 4 | | on page 350, by replacing line 14 with the following: | 5 | | " (a-9) Beginning on January 1, 2012, the "; and | 6 | | on page 350, by replacing lines 25 and 26 with " calculation, | 7 | | the effect of the tax rates in ".
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