Bill > SB357

This bill establishes a local privilege tax in Macon County, Alabama, specifically targeting pari-mutuel wagering on historical horse racing conducted on computerized machines. This tax will be set at eight percent of the "net gambling revenue," which is defined as the total money wagered minus federal taxes, voided bets, and prizes paid out, but excluding free bets or promotional credits. The Macon County Racing Commission will collect this tax from licensees and distribute it according to local law. Importantly, this new tax replaces and supersedes any other local taxes or fees currently imposed on these specific historical horse racing activities, but it does not affect the existing tax structure for live greyhound and thoroughbred racing, including simulcasts, that are not considered historical horse racing. The bill also clarifies that it does not authorize or expand any gambling activities beyond what is already legally permitted.