SB 503

Abstract

Amends the Illinois Horse Racing Act of 1975. Deletes the provisions concerning the payment of certain moneys that would otherwise be payable to purse accounts to wagering facilities if the total Illinois pari-mutuel handle on Illinois horse races at all wagering facilities in a calendar year is less than 75% of the total Illinois pari-mutuel handle on Illinois horse races at all such wagering facilities for calendar year 1994 (the recapture provisions). Makes changes concerning the distribution of certain inter-track wagering moneys. Repeals a provision authorizing organization licensees to impose a surcharge on winning wagers and winnings from wagers and makes a corresponding change.