A bill for an act relating to gambling regulation, including enforcement, license fees, tax rates, and the use of associated revenue, making appropriations, and including effective date provisions.
What changed between versions
Created a new Iowa horse racing fund to receive tax revenue from simulcast horse racing, with funds distributed to support horse racing industry entities in accordance with federal integrity standards.
Revised the gaming enforcement revolving fund to receive remaining wagering tax receipts until a specified amount is reached, then redirecting excess to the department of public safety for enforcement support costs.
Updated tax rates for gambling games, changing from a graduated rate structure to specific percentages based on licensee type: 22% for excursion gambling boats/gambling structures, 24.12% for racetrack enclosures, and 5-10% on adjusted gross receipts.
Struck several regulatory fee paragraphs and subsections from existing code sections, simplifying the fee structure and removing redundant provisions.
Established effective dates for new funding provisions, with most changes applying to fiscal years beginning July 1, 2026, and thereafter.
Modified regulatory fee calculations to differentiate between racetracks with and without table games licenses, adjusting the number of special agents assigned for fee determination purposes.