House Sponsors: ERWIN-BIGGINS-BIGGERT. Short description: WAGERING TAX - GRADUATED Synopsis of Bill as introduced: Amends the State Finance Act to create the Museums Educational Programs Fund. Amends the Riverboat Gambling Act. Changes the wagering tax from a flat tax on adjusted gross receipts to a graduated tax on those adjusted gross receipts. Provides that the State shall monthly (now quarterly) remit the municipality's or county's share of the admission tax to the treasurer of the unit of local government for deposit in the general fund. Provides that 1% of the moneys raised under the wagering tax shall be transferred to the Museums Educational Programs Fund for use by the State Board of Education. Effective January 1, 1998. HOME RULE NOTE HB1114 does not preempt home rule authority. FISCAL NOTE (Ill. Gaming Board) HB1114 would cause only limited additional costs to the State. Additionally, the State will lose a small amount of interest by paying for the admission taxes monthly rather than quarterly; however, this will be offset by additional interest earned on increased wagering tax collections. STATE MANDATES FISCAL NOTE HB 1114 fails to create a State mandate. HOUSE AMENDMENT NO. 1. Deletes everything. Amends the State Finance Act to create the Museums Educational Programs Fund. Amends the Riverboat Gambling Act. Provides that the State shall monthly (now quarterly) remit the municipality's or county's share of the admission tax to the treasurer of the unit of local government for deposit in the general fund. Provides that 1% of the moneys raised under the wagering tax shall be transferred to the Museums Educational Programs Fund for use by the State Board of Education. Effective January 1, 1998. FISCAL NOTE, AMENDED (Ill. Gaming Bd.) No change from previous fiscal note. STATE MANDATES FISCAL NOTE, H-AM 1 No change from previous mandates note. Last action on Bill: THIRD READING/STANDARD DEBATE/LOST 018-083-009 Last action date: 97-04-19 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status