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Iowa Governor, Leaders Optimistic about Gambling Tax Settlement

DES MOINES, Iowa – As reported by the Sioux City Journal: "Gov. Tom Vilsack and legislative leaders remained optimistic Monday that a settlement on tax issues with the gaming industry can be reached in the next two weeks, but none would predict whether gambling expansion will be a part of a final gambling bill.

"The governor said he believes the Legislature, after working on the gambling issue all session, will strike a deal before it adjourns early next month.

"…He said he's less certain that lawmakers will come to an agreement on allowing the expansion of the gambling industry, but does still see the possibility for new casino licenses.

"…Lawmakers were forced to rewrite the state's gaming tax laws and open up a gambling discussion after losing a lawsuit filed by the state's horse and dog tracks.

"The tracks argued they were unfairly taxed at a higher rate than riverboat casinos. The Iowa Supreme Court agreed, striking down the state's gaming tax laws.

"Lawmakers and Vilsack are now seeking an agreement from the tracks that they will forgive the state for the $165 million in taxes they overpaid under the old tax rates…"

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