SB3542 Summary

• Exempts riverboat owners from admissions tax if they operated on January 1, 2009 and completed a capital project of at least $75,000,000 approved by the Illinois Gaming Board between 2006-2009.

• Imposes an additional 1% privilege tax on adjusted gross receipts for riverboats exempt from admissions tax, with proceeds paid monthly to the home dock local government.

• Maintains existing privilege tax rates on adjusted gross receipts for all riverboat gambling operations, with revenues distributed to state funds and local governments.

• Effective immediately upon passage.