What changed in HF 710

8 passages reworded, 2 added and 25 removed; 10 of 45 unchanged.

Removed AddedIntroduced textText as passedAmendments

Compares wording only. The printed bills also mark changes to existing law with strikes and underlines, which aren’t shown here.

DIVISION I SPORTS WAGERING RECEIPTS FUND APPROPRIATION

Section 1. Section 8.57, subsection 6, Code 2023, is amended by adding the following new paragraphs:

NEW PARAGRAPH.

f. For the fiscal year beginning July 1, 2023, any unobligated and unencumbered moneys in Section 1. SPORTS WAGERING RECEIPTS FUND. There is appropriated from the sports wagering receipts fund from created in section 8.57, subsection 6, to the previous general fund of the state for the fiscal year are appropriated to beginning July 1, 2022, and ending June 30, 2023, the county endowment fund created in following amount to be used for purposes of section 15E.311. 15E.305:.................................................. $ 7,000,000

NEW PARAGRAPH.

g. This subsection is repealed June 30, 2024.

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2. Section 15E.311, subsection 3, paragraph a, Code 2023, is amended to read as follows:

a. At the end of each fiscal year, moneys in the fund shall be transferred into separate accounts within the fund and designated for use by each county in which no licensee authorized to conduct gambling games under chapter 99F was located during that fiscal year. Moneys transferred to county accounts shall be divided equally among the counties. Moneys transferred into an account for a county shall be transferred by the department to an eligible county recipient for that county. Of the moneys transferred, an eligible county recipient shall distribute seventy-five percent of the moneys as grants to charitable organizations for charitable purposes in that county and shall retain twenty-five percent of the moneys for use in establishing a permanent endowment fund for the benefit of charitable organizations for charitable purposes. In addition, of the moneys transferred from moneys appropriated to the fund from the sports wagering receipts fund created in section 8.57, subsection 6, and distributed, eligible county recipients shall give consideration for grants, upon application, to a charitable organization that operates a racetrack facility that conducts automobile races in that county. Of the amounts distributed, eligible county recipients shall give special consideration to grants for projects that include significant vertical infrastructure components designed to enhance quality of life aspects within local communities. In addition, as a condition of receiving a grant, the governing body of a charitable organization receiving a grant shall approve all expenditures of grant moneys and shall allow a state audit of expenditures of all grant moneys.

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3. Section 99E.6, subsection 2, Code 2023, is amended to read as follows:

2. The taxes imposed by this section for internet fantasy sports contests authorized under this chapter shall be paid by the internet fantasy sports contest service provider to the treasurer of state as determined by the commission and shall be credited as provided in section 8.57, subsection 6 deposited in the county endowment fund created in section 15E.311.

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4. Section 99F.11, subsection 5, paragraph b, Code 2023, is amended to read as follows:

b. The taxes imposed by this subsection for sports wagering authorized under this chapter shall be paid by the licensed operator to the treasurer of state as determined by the commission and shall be credited as provided in section 8.57, subsection 6 distributed as follows:

(1) One million seven hundred fifty thousand dollars of taxes paid is appropriated each fiscal year to the department of health and human services for purposes of the gambling treatment program established in section 135.150.

(2) One million dollars shall be deposited in the general fund of the state for purposes of section 15E.305.

(3) Eighty-five percent of the remaining amount of taxes paid after the distributions made in subparagraphs (1) and (2) shall be deposited in the county endowment fund created in section 15E.311.

(4) The remaining amount of taxes paid after the distributions made in this paragraph shall be appropriated to the economic development authority for distribution to each qualified sponsoring organization licensed to operate gambling games under this chapter on an equal basis. DIVISION II SPORTS WAGERING RECEIPTS FUND APPROPRIATION

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5. SPORTS WAGERING RECEIPTS FUND. There is appropriated from the sports wagering receipts fund created in section 8.57, subsection 6, to the general fund of the state for the fiscal year beginning July 1, 2022, and ending June 30, 2023, the following amount to be used for purposes of section 15E.305:.................................................. $ 7,000,000

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6. EFFECTIVE DATE. This division of this Act, being deemed of immediate importance, takes effect upon enactment. DIVISION III ENDOW IOWA TAX CREDIT —— TAX YEAR 2023

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7. ENDOW IOWA TAX CREDIT —— TAX YEAR 2023. Notwithstanding any provision of section 15E.305 to the contrary, the aggregate amount of tax credits authorized pursuant to section 15E.305 shall not exceed a total of thirteen million dollars for the tax year beginning on or after January 1, 2023, but before January 1, 2024.

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8. 2. EFFECTIVE DATE. This division of this Act, being deemed of immediate importance, takes effect upon enactment. DIVISION II ENDOW IOWA TAX CREDIT —— TAX YEAR 2023

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9. RETROACTIVE APPLICABILITY. This division of this Act applies retroactively to January 1, 2023, and applies to the tax year beginning on or after January 1, 2023, but before January 1, 2024. DIVISION IV ENDOW IOWA TAX CREDIT —— TAX YEARS BEGINNING ON OR AFTER TAX YEAR 2024

3. ENDOW IOWA TAX CREDIT —— TAX YEAR 2023. Notwithstanding any provision of section 15E.305 to the contrary, the aggregate amount of tax credits authorized pursuant to section 15E.305 shall not exceed a total of thirteen million dollars for the tax year beginning on or after January 1, 2023, but before January 1, 2024.

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10. Section 15E.305, subsection 2, unnumbered paragraph 1, Code 2023, is amended to read as follows: The aggregate amount of tax credits authorized pursuant to this section shall not exceed a total of six seven million dollars annually.

4. EFFECTIVE DATE. This division of this Act, being deemed of immediate importance, takes effect upon enactment.

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11. 5. RETROACTIVE APPLICABILITY. This division of this Act applies retroactively to January 1, 2023, and applies to the tax years year beginning on or after January 1, 2023, but before January 1, 2024. DIVISION V III ENDOW IOWA TAX CREDIT —— GIFTS MADE PRIOR TO 2023

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12. 6. 2022 Iowa Acts, chapter 1002, is amended by adding the following new section:

NEW SECTION. SEC. 54A. APPLICABILITY. The following applies to endowment gifts made to an endow Iowa qualified community foundation on or after January 1, 2023: The section of this division of this Act amending section 15E.305, subsection 2, paragraph “a”.

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13. 7. 2022 Iowa Acts, chapter 1002, section 55, is amended to read as follows: SEC.

55. APPLICABILITY. This Except as otherwise provided by this division of this Act, this division of this Act applies to tax years beginning on or after January 1, 2023.

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14. 8. EFFECTIVE DATE. This division of this Act, being deemed of immediate importance, takes effect upon enactment.

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15. 9. RETROACTIVE APPLICABILITY. This division of this Act applies retroactively to January 1, 2023.