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PROPOSED LAW ON PARI-MUTUEL BETTING IN ILLINOIS An act relating to running horse races and betting thereon and repealing all acts and parts of acts in conflict thereto. Be it enacted by the General Assembly of the State of Illinois: SECTION 1. Any corporation formed for the purpose of racing and breeding or improving the breed of horses and conducting races and contests of speed shall have the power and right, subject to the provisions of this act, to hold one or more running race meetings in each year and to hold, maintain and conduct running races at such meetings:. There shall be no wagering or betting on the result of any race held under the provisions of this act, except under the co-operative or pari-mutuel system of betting. No more than two such meetings shall be held in any one county in any one year and no meeting shall last longer than thirty racing days from the day of commencement thereof. SECTION 2. There shall be deducted from such co-operative or pari-mutuel income a tax of two per cent, and breakage, such breakage being on the basis of ten cents settlement. Such two per cent, tax shall be paid daily into the State Treasury- and shall be held as a special fund to be known as the Live Stock Improvement Fund. This fund shall be disbursed under the direction of the State Board of Agriculture for the purchase of purebred stock of all kinds, for the free use of farmers, for the offering of premiums for live stock at the State or County Fairs or in such other ways as the State Board of Agriculture may think meet and proper for the improvement of the live stock of the State. The breakage shall be used by the corporation conducting the races to cover the cost of handling such co-operative or pari-mutuel pools, and that shall be such corporations only revenue from such betting or wagering. SECTION 3. Any corporation desiring to avail itself of the provisions of this act may apply to the Secretary of State for a license so to do. This application shall be accompanied by an affidavit signed by the President and Secretary of the corporation that it will not knowingly permit any other form of betting or wagering except co-operative or pari-mutuel betting to take place on the races; that it will offer no less than six races in each racing day with no purse less than ,000 in added money; that its grounds will be properly policed to keep off undesirables, and that its racing will be conducted by officials of established reputations. If the Secretary of State is satisfied of the good repute of the applicants he shall issue such license. The fee for such license shall be fifty dollars 0 for each racing day, which license shall be collected in the usual way of collecting such licenses and shall go into the Live Stock Improvement Fund. SECTION 4. All State and County Fairs, which do not conduct racing for a period of more than ten days, are exempt from the provisions of this act. Sections 12C and 127 of the criminal code and all acts and parts of acts in so far as they conflict with this act are hereby repealed.
