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and intangibles of organization gaming licensees. For each of taxable years 2019 through 2027, a surcharge is imposed on all taxpayers on income arising from the sale or exchange of capital assets, depreciable business property, real property used in the trade or business, and Section 197 intangibles (i) of an organization licensee under the Illinois Horse Racing Act of 1975 and (ii) of an organization gaming licensee under the Illinois Gambling Act. The amount of the surcharge is equal to the amount of federal income tax liability for the taxable year attributable to those sales and exchanges. The surcharge imposed shall not apply if: (1) the organization gaming license, organization license, or racetrack property is transferred as a result of any of the following: (A) bankruptcy, a receivership, or a debt adjustment initiated by or against the initial licensee or the substantial owners of the initial licensee; (B) cancellation, revocation, or termination of any such license by the Illinois Gaming Board or the Illinois Racing Board; (C) a determination by the Illinois Gaming Board that transfer of the license is in the best interests of Illinois gaming; (D) the death of an owner of the equity interest in a licensee; SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468