MN HF4729

Reduces combined net receipts tax rates for lawful gambling organizations: from 9% to 7% on receipts up to $87,500; from 18% to 15% on receipts $87,500-$122,500; from 27% to 22% on receipts $122,500-$157,500; and from 36% to 30% on receipts over $157,500

Lowers the base tax amounts at each threshold: $6,125 (previously $7,875) at the $87,500 level; $11,375 (previously $14,175) at the $122,500 level; and $19,075 (previously $23,625) at the $157,500 level

Exempts gross receipts derived from sports-themed tipboards from combined net receipts taxation, where winning numbers are determined by the numerical outcome of professional sporting events

Establishes new baseline revenue calculations for fiscal years 2023, 2024, and 2025 and thereafter for the stadium reserve fund determination, replacing the February 2012 budget forecast baseline previously used

Effective date for tax rate changes is games reported as played after June 30, 2022; stadium reserve calculation changes effective the day following final enactment