Electorate Will Vote on Bonus Bond Issue: Action Follows Assemblys Approval of Veterans Bill, Daily Racing Form, 1946-06-15


view raw text

Electorate Will Vote On Bonus Bond Issue Action Follows Assemblys Approval of Veterans Bill SPRINGFIELD, HI., June 14. The Illinois electorate will go the polls next November to vote on the proposed 85,000,-000 bond issue to finance payment of a state bonus for 915,000 veterans of World War n., following passage here today of the Veterans Bonus Bill by the General Assembly, 143 to 2. The measure, which was approved last week by the senate, calls for increasing the states "take" of the wagering at race tracks from two to six per cent, while the track associations "take" is reduced from eight to seven per cent. In addition, the cigaret tax is boosted one cent per package, bringing to three cents the total tax per pack. Following its passage the bill was sent to Gov. Dwight H. Green this afternoon- for his signature, which is considered a formality, in that the administration sponsored the legislation. The new levy on race track wagering will realize ,000,000, sponsors of the measure claim. The current two per cent tax last year produced ,500,000, with half of that amount going to agricultural organizations and county fair premiums. The cigaret tax is expected to yield ,-460,000 annually, so that the total anticipated from new taxes is 7,460,000. The remainder of the annual financing over a 25-year period, estimated at ,000,000, will be provided from the states general revenue fund.

Persistent Link: https://drf.uky.edu/catalog/1940s/drf1946061501/drf1946061501_32_5
Local Identifier: drf1946061501_32_5
Library of Congress Record: https://lccn.loc.gov/unk82075800