Vote Smart's Synopsis:

Vote to pass a bill that authorizes riverboat and casino gambling operations in the cities of Chicago, Park City, Rockford, and Danville.

Highlights:

-Creates the Chicago Casino Development Authority, consisting of five members of the Illinois Gaming Board (Sec. 1). -Specifies the duties of the Authority, which include promoting, operating and maintaining a casino in Chicago, as well as administering a competitive bidding process for the selection of a potential casino operator licensee to develop or operate a casino within the City. (Sec. 1). -Requires that "gaming endowment funds", defined as at least 70 percent of gaming profits received by the municipality, be distributed as follows: 40 percent pledged for construction of infrastructure within the municipality, and 60 percent used for the construction and maintenance of schools, parks and cultural institution facilities and museums within the municipality (Sec. 1). -Authorizes the issuance of one license for riverboat gambling or casino operations in the City of Chicago, and one license for riverboat gambling in each of the cities of Rockford, Park City, and Danville (Sec. 7). -Allows the licensed owner of a casino or riverboat gambling operation to pay the tax levied on casino patrons in equal monthly rates based on attendance figures from the previous calendar year, and allows newly-created gambling operations to pay their first year's admissions taxes based on estimated attendance figures (Sec. 12). -Authorizes licensed owners of riverboat gambling operations, casino gambling operations or electronic gaming establishments to institute a cause of action to collect any amount they are owed through an extension of credit by gambling patrons (Sec. 28). -Takes effect upon becoming law (Sec. 99).

Full Bill Text