Full Text of HB3672 102nd General Assembly
HB3672 102ND GENERAL ASSEMBLY |
| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB3672 Introduced 2/22/2021, by Rep. LaToya Greenwood SYNOPSIS AS INTRODUCED: |
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Amends the Sports Wagering Act. Provides that, beginning July 1, 2021, from the tax revenue from sports wagering deposited in the Sports Wagering Fund,
an amount equal to 5% of adjusted gross receipts generated by a master sports wagering licensee (other than an online sports wagering operator) shall be paid monthly, subject to appropriation by the General Assembly, to the unit of local government in which the master sports wagering licensee is located. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | | HB3672 | | LRB102 13846 SMS 19197 b |
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| 1 | | AN ACT concerning gaming.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Sports Wagering Act is amended by changing | 5 | | Section 25-90 as follows: | 6 | | (230 ILCS 45/25-90)
| 7 | | Sec. 25-90. Tax; Sports Wagering Fund. | 8 | | (a) For the privilege of holding a license to operate | 9 | | sports wagering under this Act, this State shall impose and | 10 | | collect 15% of a master sports wagering licensee's adjusted | 11 | | gross sports wagering receipts from sports wagering. The | 12 | | accrual method of accounting shall be used for purposes of | 13 | | calculating the amount of the tax owed by the licensee. | 14 | | The taxes levied and collected pursuant to this subsection | 15 | | (a) are due and payable to the Board no later than the last day | 16 | | of the month following the calendar month in which the | 17 | | adjusted gross sports wagering receipts were received and the | 18 | | tax obligation was accrued. | 19 | | (a-3) Beginning July 1, 2021, from the tax revenue from | 20 | | sports wagering deposited in the Sports Wagering Fund under | 21 | | this Section,
an amount equal to 5% of adjusted gross receipts | 22 | | generated by a master sports wagering licensee, other than a | 23 | | licensee under Section 25-45, shall be paid monthly, subject |
| | | HB3672 | - 2 - | LRB102 13846 SMS 19197 b |
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| 1 | | to appropriation by the General Assembly, to the unit of local | 2 | | government in which the master sports wagering licensee is | 3 | | located. | 4 | | (a-5) In addition to the tax imposed under subsection (a) | 5 | | of this Section, for the privilege of holding a license to | 6 | | operate sports wagering under this Act, the State shall impose | 7 | | and collect 2% of the adjusted gross receipts from sports | 8 | | wagers that are placed within a home rule county with a | 9 | | population of over 3,000,000 inhabitants, which shall be paid, | 10 | | subject to appropriation from the General Assembly, from the | 11 | | Sports Wagering Fund to that home rule county for the purpose | 12 | | of enhancing the county's criminal justice system. | 13 | | (b) The Sports Wagering Fund is hereby created as special | 14 | | fund in the State treasury. Except as otherwise provided in | 15 | | this Act, all moneys collected under this Act by the Board | 16 | | shall be deposited into the Sports Wagering Fund. On the 25th | 17 | | of each month, any moneys remaining in the Sports Wagering | 18 | | Fund shall be transferred to the Capital Projects Fund.
| 19 | | (Source: P.A. 101-31, eff. 6-28-19.)
| 20 | | Section 99. Effective date. This Act takes effect upon | 21 | | becoming law.
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