Bill Text: IA HF2445 | 2015-2016 | 86th General Assembly | Enrolled

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Bill Title: A bill for an act excluding certain promotional play receipts from the definition of adjusted gross receipts for purposes of the wagering tax on gambling games and relating to other matters involving gambling games regulation. Effective 7-1-16.

Sponsorship: Committee Bill

Status: (Passed) 2016-04-21 - Signed by Governor. H.J. 722. [HF2445 Detail]

Download: Iowa-2015-HF2445-Enrolled.html

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House File 2445 - Enrolled




                              HOUSE FILE       
                              BY  COMMITTEE ON WAYS AND
                                  MEANS

                              (SUCCESSOR TO HSB 641)
 \5
                                   A BILL FOR
 \1
                                        House File 2445

                             AN ACT
 EXCLUDING CERTAIN PROMOTIONAL PLAY RECEIPTS FROM THE DEFINITION
    OF ADJUSTED GROSS RECEIPTS FOR PURPOSES OF THE WAGERING TAX
    ON GAMBLING GAMES AND RELATING TO OTHER MATTERS INVOLVING
    GAMBLING GAMES REGULATION.

 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    Section 1.  Section 99F.1, subsection 1, Code 2016, is
 amended to read as follows:
    1.  "Adjusted gross receipts" means the gross receipts less
 winnings paid to wagerers.  However, "adjusted gross receipts"
  does not include promotional play receipts received after the
 date in any fiscal year that the commission determines that
 the wagering tax imposed pursuant to section 99F.11 on all
 licensees in that fiscal year on promotional play receipts
 exceeds twenty=five million eight hundred twenty thousand
 dollars.
    Sec. 2.  Section 99F.1, Code 2016, is amended by adding the
 following new subsection:
    NEW SUBSECTION.  19A.  "Promotional play receipts" means
 the total sums wagered on gambling games with tokens, chips,
 electronic credits, or other forms of cashless wagering
  provided by the licensee without an exchange of money as
 described in section 99F.9, subsection 3.


                                                             
                               LINDA UPMEYER
                               Speaker of the House


                                                             
                               PAM JOCHUM
                               President of the Senate
    I hereby certify that this bill originated in the House and
 is known as House File 2445, Eighty=sixth General Assembly.


                                                             
                               CARMINE BOAL
                               Chief Clerk of the House
 Approved                , 2016


                                                             
                               TERRY E. BRANSTAD
                               Governor

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