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ND HB1203
Bill
Status
2/23/2015
Primary Sponsor
Andrew Maragos
Click for details
AI Summary
HB 1203 Summary
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Licensees may deduct no more than 20 percent from simulcast and account wagering amounts in win, place, and show pari-mutuel pools.
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For win, place, and show pools, licensees must pay one-sixteenth of one percent each to the state general fund, breeders' fund, purse fund, and racing promotion fund from simulcast and account wagering.
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For daily double, quinella, exacta, trifecta, and combination pari-mutuel pools, licensees must pay the same one-sixteenth of one percent rates to each of the four funds.
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Annual pari-mutuel tax payments are capped at $420,000 per fiscal year; licensees conducting a qualifying live race meet (minimum 12 days in a single calendar year) are capped at $200,000 total for that fiscal year.
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The Act becomes effective July 1, 2015.
Legislative Description
The taxation of live racing, simulcast, and account wagering and payments to the funds administered by the North Dakota racing commission; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 0 nays 46
3/25/2015