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