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HB368

10RS

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HB 368/FN (BR 939) - L. Clark, D. Keene, S. Westrom

     AN ACT relating to the taxation of secondary pari-mutuel organizations and making an appropriation.
     Amend KRS 138.511 to define "advance deposit account wagering," "dark day," "handle," "Kentucky resident," "pari-mutuel wager," "race meeting footprint," "secondary pari-mutuel organization," and "takeout"; create a new section of KRS 138.510 to 138.550 to require an SPMO to pay a tax in the amount of one and one-half percent on each wager placed by a Kentucky resident; require the tax be reported and paid in accordance with KRS 138.530; amend KRS 138.530 to establish time period for remittance of tax; require a SPMO to file a return and to keep books and records in which Kentucky residents and amounts wagered are easily determined and verified; subject all books and records to inspection by the department and authority; direct the distribution of revenue; permit the suspension, revocation, or denial of renewal of an SPMO's license for failing to comply with this Act.

HB 368 - AMENDMENTS


     SCS (1/FN) - Amend KRS 138.511 to add definitions; amend KRS 138.510 to reduce the pari-mutuel excise tax on live racing to 1.5% of all amounts wagered on live racing, to impose a development fee at a rate of 1.5% of all amounts wagered through a secondary pari-mutuel organization, and to impose a development fee of 1.5% of all amounts wagered on previously conducted horse races; amend KRS 138.530 to establish reporting and payment requirements for the development fees; amend KRS 138.550 to establish penalties for the new development fees; repeal and reenact KRS 230.210 to arrange definitions in alphabetical order, amend definitions, and to add additional definitions; amend KRS 230.260 to make technical corrections and to require totalisator companies to report wagering information from SPMOs to the authority; create a new section of KRS Chapter 230 to require all SPMOs to be licensed to accept wagers on races run on Kentucky tracks on or after January 1, 2011, to require the horse racing authority to promulgate regulations to license SPMOs on or before August 1, 2010 and to establish conditions for licensure; create a new section of KRS Chapter 230 to require racing associations seeking to conduct wagering on previously conducted horse racing to be licensed for such activity; amend KRS 230.400 and 230.770 to conform; declare an EMERGENCY.

     SCS (2/FN) - Amend KRS 138.511 to add conforming definitions; amend KRS 138.510 to reduce the tax on tracks with average daily live handle of $1,200,000 or above to 1.5% beginning July 1, 2010 and to make technical corrections; create a new section of KRS 138.510 to 138.550 to impose a development fee against licensees at a rate of 1.5% of all amounts wagered through the licensee on races run in the Commonwealth; amend KRS 138.530 to establish reporting and payment requirements for the development fee, and to direct distribution of the funds collected from the development fee; amend KRS 138.550 to allow a license to be suspended, revoked or not renewed; repeal and reenact KRS 230.210; amend KRS 230.260 to make clarifying and conforming changes, and to require totalisator companies to report amounts wagered through each licensee on races run at Kentucky tracks; create a new section of KRS Chapter 230 to require all persons engaging in advanced deposit wagering to obtain a license and to require the authority to issue regulations to governing the licensing process on or before August 1, 2010; amend KRS 230.400 to make conforming amendments and to allow funds to be used to support claiming races; amend KRS 230.770 to make conforming amendments; repeal KRS 47.012 and 230.752; EMERGENCY.

     SCA (1/Title, D. Thayer) - Make title amendment.

     Feb 3-introduced in House
     Feb 8-to Appropriations & Revenue (H)
     Feb 22-posting waived
     Feb 23-reported favorably, 1st reading, to Calendar
     Feb 24-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 25, 2010
     Feb 26-3rd reading, passed 85-8-1
     Mar 1-received in Senate
     Mar 3-to State & Local Government (S)
     Mar 5-taken from committee; 1st reading; returned to State & Local Government (S)
     Mar 8-taken from committee; 2nd reading; returned to State & Local Government (S)
     Mar 12-reported favorably, to Rules with Committee Substitute, committee amendment (1-title)
     Mar 16-recommitted to State & Local Government (S)
     Mar 26-posted for passage in the Regular Orders of the Day for Friday, March 26, 2010; reported favorably, to Rules with Committee Substitute (2) ; 3rd reading, passed 21-17 with Committee Substitute (2), committee amendment (1-title) ; received in House; to Rules (H)

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