Illinois HB5469 amends the Illinois Horse Racing Act of 1975 to adjust fees, tax credits, and purse allocations for racetracks and wagering.
Illinois HB5469 amends the Illinois Horse Racing Act of 1975 to adjust fees, tax credits, and purse allocations for racetracks and wagering facilities. It reduces the initial fee for gaming positions from $30,000 to $17,500 per position. The bill modifies the pari-mutuel tax credit for racetracks, allowing them to retain a percentage of the handle to cover real estate taxes. It also adjusts the distribution of funds from simulcast wagering, with a portion going to the Department of Agriculture, county fairs, park districts, and the Agricultural Premium Fund.
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- Legal Framework
- Critical Issues
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