MN HF226

Modifies the definition of "combined net receipts" for lawful gambling tax purposes to exclude gross receipts from paper bingo, raffles, and paddlewheels, and to subtract amounts expended for lawful purpose contributions under section 349.12, subdivisions 25(a)(1)-(7) and (9)-(26)

Establishes a tiered tax rate schedule for combined net receipts ranging from 9 percent on receipts not over $87,500 to 36 percent on receipts over $157,500, with graduated brackets at $87,500, $122,500, and $157,500

Creates an alternative reduced tax rate schedule (8.5 percent to 34 percent) that takes effect July 1, 2016, if the commissioner certifies by April 1, 2016, that estimated revenue for fiscal year 2016 equals or exceeds $94,800,000

Exempts gross receipts derived from sports-themed tipboards from taxation under this section, where winning numbers are determined by professional sporting event outcomes