The bill focuses on regulating leisure activities in Iowa, particularly gambling and sports wagering. It introduces new provisions that allocate eight million dollars annually from the sports wagering receipts fund to the public safety equipment fund starting in fiscal year 2026. Additionally, the bill modifies the gaming enforcement revolving fund to allow for a wider range of funding sources beyond just fees from licensees. It also increases tax rates on gambling receipts, specifically raising the rate for excursion gambling boats and racetracks, and establishes the Iowa major events and tourism program to provide financial assistance for events that have a significant economic impact.

Moreover, the bill repeals the existing sports tourism marketing and infrastructure program, replacing it with the Iowa major events and tourism program, which will support eligible entities in hosting large-scale events. This program will offer financial assistance for costs related to bidding, planning, and conducting events that attract substantial attendance and publicity. The bill also includes provisions for managing the new Iowa major events and tourism fund, ensuring that unspent funds are available for future use. It retains the sports tourism infrastructure program while allowing financial assistance to cities, counties, and public entities for sports tourism projects, provided they can demonstrate matching funds of at least 50% of the awarded amount.

Statutes affected:
Introduced: 8.57I, 80.48, 99D.14, 80.43, 99F.10, 99F.4, 99F.11, 15.106A, 15F.401, 15J.4, 15F.403, 15F.402