Bill > SF625

This bill makes several significant changes to gambling regulation in Iowa, primarily focused on modifying tax rates, license fees, and fund allocations. Starting July 1, 2026, the bill increases the annual license fee for excursion gambling boats from five to ten dollars per person capacity and changes the wagering tax rates for different types of gambling venues: excursion gambling boats and gambling structures will now be taxed at 22%, while racetrack enclosures conducting gambling games will be taxed at 24.12%. The bill also increases the sports wagering tax rate from 6.75% to 9%. Additionally, the legislation creates a new Iowa horse racing fund that will receive tax revenue from simulcast horse races and advance deposit wagering, with funds potentially supporting horse racing regulation under the federal Horseracing Integrity and Safety Act. The bill modifies how gaming enforcement and regulatory funds are managed, including directing specific amounts of wagering tax receipts to the gaming enforcement revolving fund and the public safety equipment fund. These changes aim to provide more stable funding for gambling enforcement and regulatory activities while adjusting tax structures to potentially generate more revenue for the state.

Budget and Finance

Appropriations (Senate)

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF625