Bill > SB1809

This bill amends the Video Gaming Act to modify how tax revenue from video gaming terminals is distributed, specifically creating a new, separate fund for municipalities with populations of 2,000,000 or more. Currently, video gaming terminal income tax is largely deposited into the Capital Projects Fund, with a portion going to the Local Government Video Gaming Distributive Fund. The bill changes this by creating a new "Local Government with Greater than 2,000,000 Residents Video Gaming Distributive Fund" for large municipalities. For municipalities under 2 million residents, the current distribution remains unchanged (five-sixths to the Capital Projects Fund and one-sixth to the existing Local Government Video Gaming Distributive Fund). For municipalities with 2 million or more residents, the tax distribution will now be eleven-fifteenths to the Capital Projects Fund and four-fifteenths to the new large municipality fund. The bill also ensures that these funds can be used for any general corporate purpose by the receiving municipalities, and includes provisions for correcting any overpayments. The changes are designed to provide a more targeted approach to distributing video gaming tax revenues based on municipal population size.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1809&GAID=18&DocTypeID=SB&SessionID=114&GA=104