Minnesota Legislature
SF 3695
as introduced - 92nd Legislature (2021 - 2022) Posted on 03/22/2022 10:14am
Current Version - as introduced
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A bill for an act
relating to taxation; lawful gambling; modifying the combined net receipts tax;
modifying the calculation for the stadium reserve; amending Minnesota Statutes
2020, sections 297E.02, subdivision 6; 297E.021, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2020, section 297E.02, subdivision 6, is amended to read:
Subd. 6.
Combined net receipts tax.
(a) In addition to the taxes imposed under
subdivision 1, a tax is imposed on the combined net receipts of the organization. As used
in this section, "combined net receipts" is the sum of the organization's gross receipts from
lawful gambling less gross receipts directly derived from the conduct of paper bingo, raffles,
and paddlewheels, as defined in section 297E.01, subdivision 8, and less the net prizes
actually paid, other than prizes actually paid for paper bingo, raffles, and paddlewheels, for
the fiscal year. The combined net receipts of an organization are subject to a tax computed
according to the following schedule:
| If the combined net receipts for the fiscal year are: |
The tax is: |
|||
| Not over $87,500 |
deleted text begin ninedeleted text end new text begin sevennew text end percent |
|||
| Over $87,500, but not over $122,500 |
deleted text begin $7,875deleted text end new text begin $6,125new text end plus deleted text begin 18deleted text end new text begin 15new text end percent of the amount over $87,500, but not over $122,500 |
|||
| Over $122,500, but not over $157,500 |
deleted text begin $14,175deleted text end new text begin $11,375new text end plus deleted text begin 27deleted text end new text begin 22new text end percent of the amount over $122,500, but not over $157,500 |
|||
| Over $157,500 |
deleted text begin $23,625deleted text end new text begin $19,075new text end plus deleted text begin 36deleted text end new text begin 30new text end percent of the amount over $157,500 |
(b) Gross receipts derived from sports-themed tipboards are exempt from taxation under
this section. For purposes of this paragraph, a sports-themed tipboard means a sports-themed
tipboard as defined in section 349.12, subdivision 34, under which the winning numbers
are determined by the numerical outcome of a professional sporting event.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective for games reported as played after June
30, 2022.
new text end
Sec. 2.
Minnesota Statutes 2020, section 297E.021, subdivision 2, is amended to read:
Subd. 2.
Determination of revenue increase.
By March 15 of each fiscal year, the
commissioner of management and budget, in consultation with the commissioner, shall
determine the estimated increase in revenues received from taxes imposed under this chapter
over deleted text begin the estimated revenues under the February 2012 state budget forecast for that fiscal
year. For fiscal years after fiscal year 2015, the commissioner of management and budget
shall use the February 2012 state budget forecast for fiscal year 2015 as thedeleted text end new text begin anew text end baselinenew text begin of:
(1) $....... in fiscal year 2023; (2) $....... in fiscal year 2024; and (3) $....... in fiscal year 2025
and thereafternew text end . All calculations under this subdivision must be made net of estimated refunds
of the taxes required to be paid.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day following final enactment.
new text end