Iowa Code 99F.5 – License to conduct gambling games on excursion gambling boats and at gambling structures — license to operate boat — applications — operating agreements — fee
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1. A qualified sponsoring organization may apply to the commission for a license to conduct gambling games on an excursion gambling boat or gambling structure as provided in this chapter. A person may apply to the commission for a license to operate an excursion gambling boat. An operating agreement entered into on or after May 6, 2004, between a qualified sponsoring organization and an operator of an excursion gambling boat or gambling structure shall provide for a minimum distribution by the qualified sponsoring organization for educational, civic, public, charitable, patriotic, or religious uses as defined in section 99B.1, that averages at least three percent of the adjusted gross receipts for each license year and, if applicable, three-quarters of one percent of sports wagering net receipts for each license year. The application shall be filed with the administrator of the commission at least ninety days before the first day of the next excursion season as determined by the commission, shall identify the excursion gambling boat upon which gambling games will be authorized, shall specify the exact location where the excursion gambling boat will be docked, and shall be in a form and contain information as the commission prescribes. The minimum capacity of an excursion gambling boat or gambling structure is two hundred fifty persons.
Terms Used In Iowa Code 99F.5
- Adjusted gross receipts: means the gross receipts on gambling games less winnings paid to wagerers on gambling games and less promotional play receipts on gambling games. See Iowa Code 99F.1
- Commission: means the state racing and gaming commission created under section 99D. See Iowa Code 99F.1
- Excursion gambling boat: means an excursion boat or moored barge on which lawful gambling is authorized and licensed as provided in this chapter. See Iowa Code 99F.1
- Gambling structure: means any man-made stationary structure approved by the commission that does not include a racetrack enclosure which is subject to land-based building codes rather than maritime or Iowa department of natural resources inspection laws and regulations on which lawful gambling is authorized and licensed as provided in this chapter. See Iowa Code 99F.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Qualified sponsoring organization: means a nonprofit corporation organized under the laws of this state, whether or not it is exempt from federal income taxation, or a person or association that can show to the satisfaction of the commission that the person or association is eligible for exemption from federal income taxation under section 501(c)(3), 501(c)(4), 501(c)(5), 501(c)(6), 501(c)(7), 501(c)(8), 501(c)(10), or 501(c)(19) of the Internal Revenue Code as defined in section 422. See Iowa Code 99F.1
- Sports wagering: means the acceptance of wagers on an authorized sporting event or sports-related event by any system of wagering as authorized by the commission. See Iowa Code 99F.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. The annual license fee to operate an excursion gambling boat shall be based on the passenger-carrying capacity including crew, for which the excursion gambling boat is registered. For a gambling structure, the annual license fee shall be based on the capacity of the gambling structure. The annual fee shall be five dollars per person capacity.