92nd General Assembly
Summary of SB2318
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Senate Sponsors:
TROTTER.

Short description: 
RIVERBOAT GMB-COMPETITIVE BIDS                                             

Synopsis of Bill as introduced:
        Amends the Riverboat Gambling Act.  Permits riverboat gambling on      
   Lake Michigan. Provides that each owners license awarded under the Act      
   (including current owners licenses when they expire) shall be  awarded      
   to  the  applicant  who:  (i)  has  been  determined  to be a suitable      
   applicant and (ii) has bid the highest percentage  of  adjusted  gross      
   receipts  to  be  paid into the State Gaming Fund during the period of      
   the license.  Prohibits collusive bidding practices.  Provides that at      
   least 3 licenses shall authorize riverboat gambling in Cook County, at      
   least 3 licenses shall authorize  riverboat  gambling  in  the  collar      
   counties,  and  that  at  least  3  licenses shall authorize riverboat      
   gambling in the remainder of the State.  Further provides that, except      
   in Cook County, no more than  2  licenses  shall  authorize  riverboat      
   gambling in the same county.  Licenses awarded under the above process      
   are  valid  for 10 years.  When a license expires, competitive bidding      
   for the license shall again be held.  Requires license holders to  pay      
   the  State  Police  for  investigations authorized by the Act. Repeals      
   current  provisions  authorizing  riverboat  relocation.  Amends   the      
   Illinois  Horse  Racing  Act of 1975. Repeals the Section creating the      
   Horse Racing Equity Fund. Effective immediately.                            
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status