IL SB1606

Amends the Riverboat Gambling Act by removing the requirement for riverboat owners licensees to make payments into the Horse Racing Equity Trust Fund (impact fee).

Requires all payments made under Public Act 94-804 or Section 10 of Public Act 95-1008 that are currently held or have not been distributed be returned to their payors on the effective date of this amendatory act.

Removes language prohibiting the Board from making changes to the Horse Racing Equity Trust Fund payment requirement without express authority from the Illinois General Assembly.

Takes effect immediately upon becoming law.