§ 4-31-9-1.5 — Retention from withholdings

Indiana § 4-31-9-1.5

• Jurisdiction: Indiana
• Art. 31: PARI-MUTUEL WAGERING ON HORSE RACES
• Ch. 9: Taxation and Distribution of Pari-Mutuel Revenues

Text

5. (a) Except as provided in subsection (b), a
person that holds a permit to conduct a horse racing meeting or a
permit holder licensed to operate a satellite facility shall retain the
following amounts from the money withheld under section 1 of this
chapter:
(1) For pari-mutuel wagers made at a permit holder's racetrack on
live races, an amount equal to:
(A) eight percent (8%) of the total amount of money wagered
on win, place, and show pools on each racing day; plus
(B) eleven and one-half percent (11.5%) of the total amount of
money wagered on exotic wagering pools on each racing day.
(2) For pari-mutuel wagers made at a permit holder's satellite
facility on simulcasts of races originating from the permit holder's
racetrack, an amount equal to:
(A) ten percent (10%) of the total amount of money wagered on
win, place, and show pools on each day; plus
(B) thirteen and one-half percent (13.5%) of the total amount of
money wagered on exotic wagering pools on each day.
(3) On the simulcast of races, for the Indiana sending or Indiana
receiving track or its satellite facilities, the amount to be retained,
after deducting:
(A) pari-mutuel tax payments owed to Indiana; and
(B) the contractual obligations owed to the racetrack from
which the races originated;
shall be determined, subject to the approval of the commission, by
one (1) or more contracts between the applicable Indiana permit
holders and the applicable horsemen's association.
(b) If requested in writing by a horsemen's association, the
commission may reduce the amount that a permit holder must retain
under subsection (a)(1), (a)(2), or (a)(3), or any combination of those
subdivisions. The commission must find that reducing the amount
retained by the permit holder is in the best interests of horse racing in
Indiana before granting the horsemen's association's request.

Legislative History

As added by P.L.24-1992, SEC.28. Amended by P.L.210-2013, SEC.4.