BY SENATORS Wattenberg, Chlouber, and Powers;
also REPRESENTATIVES McPherson, Allen, Mace, and
Taylor.
CONCERNING AMENDMENTS TO THE EXISTING STATUTORY DISTRIBUTION
FORMULA FOR GROSS RECEIPTS DERIVED FROM PARIMUTUEL WAGERING
ON GREYHOUND RACES.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 1260702
(1) (b) and (1) (e) (I), Colorado Revised Statutes, are amended
to read:
1260702. Unlawful to wager,
exception excess taxes.
(1) (b) It is unlawful for any licensee for the
racing of greyhounds or any operator of an instate simulcast
facility which
THAT receives simulcast races of greyhounds to take more than
eighteen percent, and on and after
July 1, 1994, seventeen NINETEEN
and onehalf percent, of the gross receipts of any parimutuel
wagering on such races or simulcast races or for a licensee for
the racing of horses or an operator of an instate simulcast
facility which
THAT receives simulcast races of horses to take more than eighteen
and onehalf percent of the gross receipts on win, place,
and show wagering on such races or simulcast races or more than
twentyfive percent of the gross receipts from all other
parimutuel wagering on such races or simulcast races.
(e) (I) Each licensee for the racing
of greyhounds shall pay on a weekly basis as purses for the races
in any greyhound race meet conducted at its instate host
track four
FIVE percent of the gross receipts from all parimutuel wagering
on such races.
SECTION 2. No
appropriation. The general assembly has determined that this
act can be implemented within existing appropriations, and therefore
no separate appropriation of state moneys is necessary to carry
out the purposes of this act.
SECTION 3. Effective date
applicability. This act shall take
effect July 1, 1998, and shall apply to the proceeds of parimutuel
wagering conducted on or after said date.
SECTION 4. Safety
clause. The general assembly hereby finds, determines, and
declares that this act is necessary for the immediate preservation
of the public peace, health, and safety.
____________________________ ____________________________
Tom Norton Charles E. Berry
PRESIDENT OF SPEAKER OF THE HOUSE
THE SENATE OF REPRESENTATIVES
____________________________ ____________________________
Patricia K. Dicks Judith M. Rodrigue
ASSISTANT SECRETARY OF CHIEF CLERK OF THE HOUSE
THE SENATE OF REPRESENTATIVES
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE
OF COLORADO