Iowa SF625 modifies gambling regulation by adjusting license fees, tax rates, and fund allocations for gambling activities.

Iowa SF625 revises gambling regulation by increasing the annual license fee for excursion gambling boats and gambling structures from $5 to $10 per person capacity. It also changes the tax rates on adjusted gross receipts for different types of gambling establishments. The bill creates an Iowa horse racing fund to manage tax revenue from simulcast horse races, which will be used by the racing commission for distribution to entities subject to federal horse racing regulations. Additionally, it increases the tax rate on sports wagering net receipts from 6.75% to 9%.

Iowa SF625 modifies gambling regulation by adjusting license fees, tax rates, and fund allocations for gambling activities.

Iowa SF625 revises gambling regulation by increasing the annual license fee for excursion gambling boats and gambling structures from $5 to $10 per person capacity. It also changes the tax rates on adjusted gross receipts for different types of gambling establishments. The bill creates an Iowa horse racing fund to manage tax revenue from simulcast horse races, which will be used by the racing commission for distribution to entities subject to federal horse racing regulations. Additionally, it increases the tax rate on sports wagering net receipts from 6.75% to 9%.