RIVERBOATS-PRIV/ADMISSION TAX

Amends the Riverboat Gambling Act. For a riverboat in operation on January 1, 2009 that has a capital projects of at least $45,000,000 that are approved by the Board in calendar years 2006 through 2009 or for which at least $45,000,000 in expenditures have been made in calendar years 2006 through 2009, (i) eliminates the admissions tax and (ii) imposes an additional 1% privilege tax, the proceeds of which shall be paid monthly to the unit of local government that is designated as the home dock of the riverboat upon which those riverboat gambling operations are conducted. Effective immediately.