Bill Text: IA HF2403 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act appropriating a portion of certain tax receipts concerning internet fantasy sports contests and sports wagering to the county endowment fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2022-02-16 - Introduced, referred to State Government. H.J. 265. [HF2403 Detail]
Download: Iowa-2021-HF2403-Introduced.html
House
File
2403
-
Introduced
HOUSE
FILE
2403
BY
CAHILL
A
BILL
FOR
An
Act
appropriating
a
portion
of
certain
tax
receipts
1
concerning
internet
fantasy
sports
contests
and
sports
2
wagering
to
the
county
endowment
fund.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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2403
Section
1.
Section
99E.6,
subsection
2,
Code
2022,
is
1
amended
to
read
as
follows:
2
2.
The
taxes
imposed
by
this
section
for
internet
fantasy
3
sports
contests
authorized
under
this
chapter
shall
be
paid
by
4
the
internet
fantasy
sports
contest
service
provider
to
the
5
treasurer
of
state
as
determined
by
the
commission
and
shall
be
6
distributed
as
follows:
7
a.
An
amount
of
taxes
distributed
pursuant
to
this
section
8
equal
to
one
percent
of
internet
fantasy
sports
contest
9
adjusted
revenues
shall
be
deposited
in
the
county
endowment
10
fund
created
in
section
15E.311.
11
b.
The
remaining
amount
of
internet
fantasy
sports
contest
12
taxes
distributed
pursuant
to
this
section
shall
be
credited
as
13
provided
in
section
8.57,
subsection
6
.
14
Sec.
2.
Section
99F.11,
subsection
5,
paragraph
b,
Code
15
2022,
is
amended
to
read
as
follows:
16
b.
The
taxes
imposed
by
this
subsection
for
sports
wagering
17
authorized
under
this
chapter
shall
be
paid
by
the
licensed
18
operator
to
the
treasurer
of
state
as
determined
by
the
19
commission
and
shall
be
distributed
as
follows:
20
(1)
An
amount
of
taxes
distributed
pursuant
to
this
21
subsection
equal
to
one
percent
of
sports
wagering
net
receipts
22
shall
be
deposited
in
the
county
endowment
fund
created
in
23
section
15E.311.
24
(2)
The
remaining
amount
of
sports
wagering
taxes
25
distributed
pursuant
to
this
subsection
shall
be
credited
as
26
provided
in
section
8.57,
subsection
6
.
27
EXPLANATION
28
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
29
the
explanation’s
substance
by
the
members
of
the
general
assembly.
30
This
bill
provides
that,
of
taxes
collected,
1
percent
31
of
internet
fantasy
sports
contest
adjusted
revenues
and
1
32
percent
of
sports
wagering
net
receipts
shall
be
deposited
33
in
the
county
endowment
fund
created
in
Code
section
15E.311
34
prior
to
the
remaining
taxes
received
for
internet
fantasy
35
-1-
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H.F.
2403
sports
contests
and
sports
wagering
being
credited
to
the
1
sports
wagering
receipts
fund
created
in
Code
section
8.57.
2
Currently,
all
tax
revenue
for
internet
fantasy
sports
contests
3
and
sports
wagering
is
credited
to
the
sports
wagering
receipts
4
fund.
5
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5836YH
(3)
89
ec/rn
2/
2
