§ 4-31-9-2 — Purse money

Indiana § 4-31-9-2

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

Text

Each person that holds a permit to conduct a
horse racing meeting or a permit holder licensed to operate a satellite
facility shall pay as purse money from the amounts withheld under
section 1 of this chapter an amount equal to:
(1) eight percent (8%) of the total amount of money wagered on
live races at a permit holder's racetrack; plus
(2) five percent (5%) of the total amount of money wagered on
simulcasts of horse races that originate from a permit holder's
racetrack and are televised at the permit holder's satellite
facilities; plus
(3) on the simulcast of races, for the Indiana sending or Indiana
receiving track, the total amount to be paid to purses, 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, and the
allocation of this amount between breeds, if applicable, shall be
determined by the rules of the commission.

Legislative History

As added by P.L.341-1989(ss), SEC.2. Amended by P.L.24-1992, SEC.29.