SB 1591

Abstract

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the tax exemptions for certain registered horses, or interests in horses, that are used for purposes of breeding or racing are exempt from the Acts' sunset provisions and the exemptions apply for all periods beginning May 30, 1995, but no claim for credit or refund is allowed for such taxes paid during the period beginning May 30, 2000 and ending on the effective date of this amendatory Act. Amends the Illinois Horse Racing Act of 1975 and the Riverboat Gambling Act to authorize electronic gaming at race tracks. Further amends the Illinois Horse Racing Act of 1975. Repeals provisions concerning the Horse Racing Equity Fund and certain surcharges. Imposes a tax on admissions to electronic gaming facilities. Provides for the distribution of the admission tax revenues. Makes changes concerning the collection and payment of certain purse moneys. Creates the Backstretch Programs Advisory Board. Amends the Riverboat Gambling Act. Authorizes 2 additional riverboat licenses. In the definitions Section, changes the term "gross receipts" to "whole gaming receipts" and changes the term "adjusted gross receipts" to "gross gaming receipts". Amends the Liquor Control Act of 1934 to include a reference to land-based facilities in provisions concerning the authority of the Illinois Gaming Board. Amends the Criminal Code of 1961 to provide that certain provisions that apply to riverboat gambling also apply to electronic gaming. Amends the State Finance Act to create the Racing Industry Workers' Fund and the Depressed Communities Economic Development Fund as special funds in the State treasury. Contains a severability clause. Makes other changes. Preempts home rule. Effective immediately.