The bill amends various sections of Iowa's gambling regulations, focusing on the allocation of tax revenues and the establishment of new funds to support gambling enforcement and public safety. Notably, it introduces a new subparagraph that mandates a portion of wagering tax receipts to be credited to the gaming enforcement revolving fund, specifically for the support of agents and officers involved in gambling enforcement activities. Additionally, it appropriates $8 million annually from the sports wagering receipts fund to the public safety equipment fund starting in the fiscal year 2026. The bill also creates the Iowa horse racing fund, which will receive tax revenue from advance deposit wagering and is intended to support the regulation of the horse racing industry.

Furthermore, the bill revises the tax rates imposed on gambling receipts, increasing the rates for excursion gambling boats and racetrack enclosures. It eliminates certain regulatory fees and provisions related to the determination of these fees, streamlining the process for assessing regulatory costs. The effective date for these changes is set for July 1, 2026. Overall, the bill aims to enhance the financial framework surrounding gambling regulation in Iowa, ensuring adequate funding for enforcement and public safety initiatives while adjusting tax structures to reflect current industry practices.

Statutes affected:
Introduced: 8.57I, 80.48, 99D.14, 80.43, 99D.9D, 99D.15, 8.33, 99F.10, 99F.4, 99F.11
Reprinted: 8.57, 99F.11, 80.48, 99D.14, 80.43, 99D.9D, 99D.15, 8.33, 99F.10, 99F.4