SB 3706

Abstract

Amends the Sports Wagering Act. Provides that, notwithstanding any other provision of law, beginning with July 2024, the Illinois Gaming Board shall certify to the State Comptroller the amount of tax revenues collected in the month from sports wagering operations within a municipality with a population of 5,000 or more but less than 500,000, within a municipality of less than 5,000 that has a police pension fund under the Downstate Police Article of the Illinois Pension Code, and within a municipality that is designated a financially distressed city. Provides that the amounts certified shall include wagers designated by digital geolocation within the municipality and wagers made at a physical location within the municipality. Requires the State Comptroller to direct, as soon after certification as practicable, and the State Treasurer to transfer from the Sports Wagering Fund to the specified municipality 5% of the amount certified for that municipality. Requires a municipality that receives moneys under the provisions to use the moneys for general corporate purposes. Effective immediately.