Iowa HF693 modifies the county endowment fund to restrict its use to charitable organizations located in the state.
Iowa HF693 amends the county endowment fund, which receives 0.8% of adjusted gross receipts tax from gambling games. The bill specifies that 75% of the fund must be distributed as grants to charitable organizations for charitable purposes within the county, while 25% is retained for a permanent endowment fund benefiting in-state charitable organizations. The bill also narrows the definition of "charitable organization" to those located in Iowa.
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- Legal Framework
- Critical Issues
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