Under existing law, pari-mutuel wagering on historical horse racing and bingo is conducted at certain locations in the state. Also under existing law, there is a state privilege tax that is levied upon every person engaged in the business of operating a race track equal to one percent of the pari-mutuel pool. In addition, there are local taxes levied on such pari-mutuel pools. This bill would provide that such activities may only be conducted at six certain named locations. This bill would establish a new state privilege tax of four percent of the net revenues of each licensee conducting pari-mutuel wagering on historical racing, which would be in lieu of any other state privilege taxes.

Statutes affected:
Introduced: 40-26A-1, 40-26A-2