Senate Bill 0764

    Florida Senate - 1999                                   SB 764

    By Senator Geller





    29-411-99

  1                      A bill to be entitled

  2         An act relating to greyhound racing; amending

  3         ss. 550.0951, 550.09514, F.S.; reducing the tax

  4         on handle for permitholders from 7.6 percent to

  5         5 percent; providing an effective date.

  6

  7  Be It Enacted by the Legislature of the State of Florida:

  8

  9         Section 1.  Paragraph (b) of subsection (3) of section

10  550.0951, Florida Statutes, 1998 Supplement, is amended to

11  read:

12         550.0951  Payment of daily license fee and taxes.--

13         (3)  TAX ON HANDLE.--Each permitholder shall pay a tax

14  on contributions to pari-mutuel pools, the aggregate of which

15  is hereinafter referred to as "handle," on races or games

16  conducted by the permitholder. The tax is imposed daily and is

17  based on the total contributions to all pari-mutuel pools

18  conducted during the daily performance.  If a permitholder

19  conducts more than one performance daily, the tax is imposed

20  on each performance separately.

21         (b)  The tax on handle for dogracing is 5 7.6 percent

22  of the handle and for jai alai is 7.1 percent of the handle.

23         Section 2.  Subsection (1) of section 550.09514,

24  Florida Statutes, 1998 Supplement, is amended to read:

25         550.09514  Greyhound dogracing taxes; purse

26  requirements.--

27         (1)  Notwithstanding the provisions of s.

28  550.0951(3)(b), wagering on greyhound racing is subject to a

29  tax on handle for live greyhound racing at the rate of 5 7.6

30  percent of handle.  Each permitholder shall pay the tax on

31  live handle in excess of $100,000 per performance until such

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 1999                                   SB 764
    29-411-99




  1  time as this subsection has resulted in a tax savings per

  2  state fiscal year of $360,000. Thereafter, each permitholder

  3  shall pay the tax provided in this subsection on all handle

  4  for the remainder of the permitholder's current race meet, and

  5  the tax must be calculated and commence beginning the day

  6  after the biweekly period in which the permitholder reaches

  7  the maximum tax savings per state fiscal year provided in this

  8  section.  For the three permitholders which conducted a full

  9  schedule of live racing in 1995, and are closest to another

10  state which authorizes greyhound pari-mutuel wagering, the

11  maximum tax savings per state fiscal year shall be $500,000.

12  The provisions of this subsection relating to tax exemptions

13  shall not apply to any charity or scholarship performances

14  conducted pursuant to s. 550.0351.

15         Section 3.  This act shall take effect July 1, 1999.

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18                          SENATE SUMMARY

19    Reduces the tax on handle for greyhound permitholders
      from 7.6 percent to 5 percent.
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