Illinois § 60

§ 60.

Imposition and distribution of tax. (a) Through June 30, 2025, a tax of 30% is imposed on net terminal income and shall be collected by the Board. Of the tax collected under this subsection (a), five-sixths shall be deposited into the Capital Projects Fund and one-sixth shall be deposited into the Local Government Video Gaming Distributive Fund. (b) Beginning on July 1, 2019 and through June 30, 2025, an additional tax of 3% is imposed on net terminal income and shall be collected by the Board. Beginning on July 1, 2020 and through June 30, 2025, an additional tax of 1% is imposed on net terminal income and shall be collected by the Board. Beginning on July 1, 2024 and through June 30, 2025, an additional tax of 1% is imposed on net terminal income and shall be collected by the Board. The tax collected under this subsection (b) shall be deposited into the Capital Projects Fund. (b-5) Beginning on July 1, 2025, a tax of 35% is imposed on net terminal income and shall be collected by the Board. Of the tax collected under this subsection (b-5), 83.7% shall be deposited into the Capital Projects Fund, 14.3% shall be deposited into the Local Government Video Gaming Distributive Fund, and 2% shall be deposited into the State Gaming Fund. (c) Revenues generated from the play of video gaming terminals shall be deposited by the terminal operator, who is responsible for tax payments, in a specially created, separate bank account maintained by the video gaming terminal operator to allow for electronic fund transfers of moneys for tax payment. (d) Each licensed establishment, licensed truck stop establishment, licensed large truck stop establishment, licensed fraternal establishment, and licensed veterans establishment shall maintain an adequate video gaming fund, with the amount to be determined by the Board. (e) The State's percentage of net terminal income shall be reported and remitted to the Board within 15 days after the 15th day of each month and within 15 days after the end of each month by the video terminal operator. A video terminal operator who falsely reports or fails to report the amount due required by this Section is guilty of a Class 4 felony and is subject to termination of his or her license by the Board. Each video terminal operator shall keep a record of net terminal income in such form as the Board may require. All payments not remitted when due shall be paid together with a penalty assessment on the unpaid balance at a rate of 1.5% per month. (Source: P.A. 103-592, eff. 6-7-24; 104-2, eff. 6-16-25.)