Bill Amendment: IL HB4951 | 2023-2024 | 103rd General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: NEIGHBORHOOD CONCERT TAX
Status: 2024-06-10 - Added as Alternate Chief Co-Sponsor Sen. Elgie R. Sims, Jr. [HB4951 Detail]
Download: Illinois-2023-HB4951-Senate_Amendment_004.html
Bill Title: NEIGHBORHOOD CONCERT TAX
Status: 2024-06-10 - Added as Alternate Chief Co-Sponsor Sen. Elgie R. Sims, Jr. [HB4951 Detail]
Download: Illinois-2023-HB4951-Senate_Amendment_004.html
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| 1 | AMENDMENT TO HOUSE BILL 4951 | ||||||
| 2 | AMENDMENT NO. ______. Amend House Bill 4951, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of Senate Amendment | ||||||
| 4 | No. 2, on page 1078, line 15, by replacing "tax imposed under | ||||||
| 5 | subsection (a)" with "tax imposed under subsection (a), (d), | ||||||
| 6 | or (d-5)"; and
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| 7 | by replacing everything from line 24 on page 1079 through line | ||||||
| 8 | 20 on page 1080 with the following: | ||||||
| 9 | "(d) Beginning on July 1, 2024, and for each 12-month | ||||||
| 10 | period thereafter, for the privilege of holding a license to | ||||||
| 11 | operate sports wagering under this Act, this State shall | ||||||
| 12 | impose a privilege tax on the master sports licensee's | ||||||
| 13 | adjusted gross sports wagering receipts from sports wagering | ||||||
| 14 | over the Internet or through a mobile application based on the | ||||||
| 15 | following rates: | ||||||
| 16 | 20% of annual adjusted gross sports wagering receipts | ||||||
| 17 | up to and including $30,000,000. | ||||||
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| 1 | 25% of annual adjusted gross sports wagering receipts | ||||||
| 2 | in excess of $30,000,000 but not exceeding $50,000,000. | ||||||
| 3 | 30% of annual adjusted gross sports wagering receipts | ||||||
| 4 | in excess of $50,000,000 but not exceeding $100,000,000. | ||||||
| 5 | 35% of annual adjusted gross sports wagering receipts | ||||||
| 6 | in excess of $100,000,000 but not exceeding $200,000,000. | ||||||
| 7 | 40% of annual adjusted gross sports wagering receipts | ||||||
| 8 | in excess of $200,000,000. | ||||||
| 9 | (d-5) Beginning on July 1, 2024, and for each 12-month | ||||||
| 10 | period thereafter, for the privilege of holding a license to | ||||||
| 11 | operate sports wagering under this Act, this State shall | ||||||
| 12 | impose a privilege tax on the master sports licensee's | ||||||
| 13 | adjusted gross sports wagering receipts from sports wagering | ||||||
| 14 | from other than over the Internet or through a mobile | ||||||
| 15 | application based on the following rates: | ||||||
| 16 | 20% of annual adjusted gross sports wagering receipts | ||||||
| 17 | up to and including $30,000,000. | ||||||
| 18 | 25% of annual adjusted gross sports wagering receipts | ||||||
| 19 | in excess of $30,000,000 but not exceeding $50,000,000. | ||||||
| 20 | 30% of annual adjusted gross sports wagering receipts | ||||||
| 21 | in excess of $50,000,000 but not exceeding $100,000,000. | ||||||
| 22 | 35% of annual adjusted gross sports wagering receipts | ||||||
| 23 | in excess of $100,000,000 but not exceeding $200,000,000. | ||||||
| 24 | 40% of annual adjusted gross sports wagering receipts | ||||||
| 25 | in excess of $200,000,000. | ||||||
| 26 | (d-10) The accrual method of accounting shall be used for | ||||||
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| 1 | purposes of calculating the amount of the tax owed by the | ||||||
| 2 | licensee. | ||||||
| 3 | (d-15) The taxes levied and collected pursuant to | ||||||
| 4 | subsections (d) and (d-5) are due and payable to the Board no | ||||||
| 5 | later than the last day of the month following the calendar | ||||||
| 6 | month in which the adjusted gross sports wagering receipts | ||||||
| 7 | were received and the tax obligation was accrued."; and
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