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Iowa Lawmakers Want Racetrack Deal in Writing

IOWA – As reported by the Des Moines Register: "Now that a wide-ranging gambling bill has passed the House, lawmakers are looking to formalize the deal they have with racetracks.

"As part of House File 2302, Iowa's three racetracks sent letters to the state forgiving $112.6 million in back taxes owed, following an Iowa Supreme Court ruling that racetracks can't be taxed at almost twice the rate of riverboats.

"House Speaker Christopher Rants, R-Sioux City, said he is working with the state attorney general's office to formalize that into a written settlement agreement as quickly as possible.

"…The bill would permit table games such as blackjack at racetrack casinos, set a new tax rate for racetracks and riverboat casinos, remove cash and credit card machines from casino floors, and forgive nearly $113 million in back taxes that the state owes the three racetracks…"

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