§ 4-31-7.5-18 — "Net source market fee"; fee payments; horse racing promotion

Indiana § 4-31-7.5-18

• Jurisdiction: Indiana
• Art. 31: PARI-MUTUEL WAGERING ON HORSE RACES
• Ch. 7.5: Advance Deposit Wagering

Text

(a) As used in this section, "net source
market fee" means the difference between:
(1) the amount of the source market fee received by a permit
holder from a licensed SPMO; minus
(2) the amount of expenses incurred by the permit holder under
this chapter.
(b) Each permit holder shall not later than the end of each month
pay to the commission as an advance deposit wagering fee an amount
equal to sixty percent (60%) of the net source market fee received from
a licensed SPMO during the preceding month.
(c) The commission shall use twenty-five percent (25%) of the
revenue received from advance deposit wagering fees under subsection
(b) to promote horse racing at the state fair and county fairs.
(d) The commission shall use seventy-five percent (75%) of the
revenue received to promote and encourage Indiana horse owner and
horse trainer participation at a permit holder's horse racing facility as
follows:
(1) Eight percent (8%) of the revenue described shall be
distributed to the horsemen's association representing quarter
horses.
(2) Forty-six percent (46%) of the revenue shall be distributed to
the horsemen's association representing standardbred owners and
trainers.
(3) Thirty-six and eight-tenths percent (36.8%) of the revenue
shall be distributed to the horsemen's association representing
thoroughbred owners and trainers.
(4) Nine and two-tenths percent (9.2%) of the revenue shall be
distributed to the horsemen's association representing
thoroughbred owners and breeders.

Legislative History

As added by P.L.268-2017, SEC.12.