Illinois Compiled Statutes 230 ILCS 50/30-20 – Revenue
Current as of: 2024 | Check for updates
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(a) Notwithstanding any other law to the contrary, a tax is imposed at the rate of 35% of net terminal income received from video gaming under this Act, which shall be remitted to the Board and deposited into the State Fairgrounds Capital Improvements and Harness Racing Fund.
(b) There is created within the State treasury the State Fairgrounds Capital Improvements and Harness Racing Fund. The Department of Agriculture shall use moneys in the State Fairgrounds Capital Improvements and Harness Racing Fund as follows and in the order of priority:
(1) to provide support for a harness race meeting
(b) There is created within the State treasury the State Fairgrounds Capital Improvements and Harness Racing Fund. The Department of Agriculture shall use moneys in the State Fairgrounds Capital Improvements and Harness Racing Fund as follows and in the order of priority:
Terms Used In Illinois Compiled Statutes 230 ILCS 50/30-20
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(1) to provide support for a harness race meeting
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produced by an organization licensee under the Illinois Horse Racing Act of 1975 and which shall consist of up to 30 days of live racing per year at the Illinois State Fairgrounds in Springfield;
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(2) to repair and rehabilitate fairgrounds’
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backstretch facilities to such a level as determined by the Department of Agriculture to be required to carry out a program of live harness racing; and
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(3) for the overall repair and rehabilitation of the
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capital infrastructure of: (i) the Illinois State Fairgrounds in Springfield, and (ii) the DuQuoin State Fairgrounds in DuQuoin, and for no other purpose.
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Notwithstanding any other law to the contrary, the entire State share of tax revenues from the race meetings under paragraph (1) of this subsection (c) shall be reinvested into the State Fairgrounds Capital Improvements and Harness Racing Fund.