Illinois HB1505 amends the Illinois Horse Racing Act of 1975 to revise tax rates, fund allocations, and licensing requirements for horse racing and.
Illinois HB1505 amends the Illinois Horse Racing Act of 1975 to revise tax rates, fund allocations, and licensing requirements for horse racing and wagering activities. The bill imposes a flat pari-mutuel tax of 1.5% on all pari-mutuel wagering facilities and advance deposit wagering from locations other than wagering facilities. It also imposes an additional 0.25% pari-mutuel tax on advance deposit wagering.
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