Illinois Compiled Statutes 230 ILCS 5 Illinois Horse Racing Act of 1975. Section 26.5

    (230 ILCS 5/26.5) (from Ch. 8, par. 37-26.5)

    Sec. 26.5. Inter-track wagering licensee surcharge. In addition to the amount retained pursuant to paragraph (10) of subsection (h) of Section 26, inter-track wagering licensees shall retain an additional amount equal to 1.5% of each winning wager and winnings from wagers. The surcharge shall be deducted from winnings prior to payout, except as provided in subsection (g) of Section 27 of this Act. Amounts retained under this Section shall be distributed as follows: 40% to the organization licensee at whose track the wager was placed, 40% as purses at the track where the wager was placed, and 20% to the county in which the track where the wager was placed is located.

(Source: P.A. 89-16, eff. 5-30-95.)

Sections:  Previous  24  25  26  26.1  26.2  26.3  26.4  26.5  26.6  26.7  26.8  26.9  27  27.1  27.2  Next

Last modified: February 18, 2015