HCS HB 498 Jacob, Kenneth B

C O M M I T T E E

HCS HB 498 -- EXCURSION GAMBLING BOATS

SPONSOR: Jacob

COMMITTEE ACTION: Voted "do pass" by the Committee on Ways and Means by a vote of 8 to 4.

This substitute eliminates the $500 loss limit for persons making wagers on excursion gambling boats. Additional state gross receipts tax on gambling that result from elimination of the loss limit, as estimated by the Office of Administration, will be deposited in the Higher Education Trust Fund which is created in the substitute. Monies in the fund can be appropriated only for funding of higher education.

The substitute also requires the Gaming Commission to allow passengers to board an excursion gambling boat at any time while the boat is docked and allows boats to remain docked between the hours of 6:00 p.m. and 6:00 a.m.

FISCAL NOTE: Not available at time of this printing.

PROPONENTS: Supporters say that this bill will eliminate the administrative problems associated with the loss limit, attract high stakes gamblers, increase state revenue, and eliminate a competitive disadvantage with the state of Illinois.

OPPONENTS: There was no opposition voiced to the committee.

Bill Tucker, Research Analyst