HORSE RACING-DAILY TAX RATE

Amends the Illinois Horse Racing Act of 1975. Provides that, on and after the effective date of this amendatory Act, every organization licensee and inter-track wagering location licensee shall pay a pari-mutuel tax at the rate of 1.1% of daily pari-mutuel handle; except that each organization licensee whose track facilities are located in counties of less than 400,000 and that was operating on or before June 1, 1986 and each inter-track wagering location licensee that derives its license from a track located in a county with a population in excess of 230,000 and that borders the Mississippi River shall instead pay a pari-mutuel tax at the rate of 0.1% of daily pari-mutuel handle. Provides that if certain circumstances occur, every organization licensee and inter-track wagering location licensee shall instead pay a pari-mutuel tax at the rate of 1.5% of daily pari-mutuel handle. Effective immediately.