FAMILY AMUSEMENT WAGERING ACT

Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2026 and ending on or before December 31, 2030, each taxpayer that is an organization licensee under the Illinois Horse Racing Act of 1975 is entitled to a credit against specified taxes in an aggregate amount equal to 100% of eligible expenditures up to $9,000,000 for qualified project capital infrastructure improvements for housing and other facilities that benefit backstretch workers at an organization licensee facility operating on the effective date of the amendatory Act. Makes other changes. Amends the Illinois Horse Racing Act of 1975. Provides, with exceptions, that no organization license may be granted to conduct a horse race meeting to any person at any place within 100 miles of a track located in a county with a population in excess of 230,000 and that borders the Mississippi River. In a provision regarding standardbred racetracks in Cook County, provides that consent for the issuance of an organization license for standardbred racing at specified race tracks from existing operators is not required after July 1, 2026. Requires the Illinois Racing Board to issue an organization license limited to standardbred racing to a racetrack located in Macon County. Provides that the Board may: (1) award fewer than the minimum number of racing days, but no fewer than 60 days of racing, if there is consent for fewer days of racing as agreed to by the organization licensee and the horsemen association representing the largest number of owners, trainers, jockeys, or standardbred drivers who race horses at that organization licensee's racing meeting; and (2) award racing days to the organization licensee in the remainder of 2026 and may award fewer than 60 days of racing in 2026 after the Board has considered the application. Makes other and conforming changes. Effective immediately.

Status

Engrossed

Passed its first chamber

Status date

Apr 8, 2025

583 days ago

Current chamber

House of Representatives

Session

2025-2026 Regular Session