SB 272 Limits amount of revenue collectable from gaming boat admission fees
Sponsor: Gross
LR Number: 0880L.10T Fiscal Note: 0880-10
Committee: Ways & Means
Last Action: 7/14/2005 - Signed by Governor Journal Page:
Title: HCS SCS SB 272 Calendar Position:
Effective Date: August 28, 2005
House Handler: Dempsey

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Current Bill Summary

HCS/SCS/SB 272 - This act limits the amount of revenue derived from admission fees for gaming boats St. Charles City may collect after fiscal year 2008 to the percentage of revenue attributable to admission fees for fiscal year 2006. In the case of a new casino, the revenue from such casino will be limited to the average percentage of revenue attributable to admission fees for the first two fiscal years of the casinos operation. All revenue derived from admission fees to gaming boats, by St. Charles City, shall be used exclusively for capital, cultural, and special law enforcement purpose expenditures. Any revenue collected in excess of the limitation provided in this act after fiscal year 2007, will have the effect of rolling back property tax rates. Home dock cities or counties that have rolled back property tax rates to zero or do not levy a property tax are provided with the alternative to offset costs associated with providing certain services to taxpayers or to lower certain other tax rates.