§ 4-31-9-7 — Money wagered on televised simulcasts; racing fees; amount; distribution

Indiana § 4-31-9-7

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

Text

(a) This section does not apply to money
wagered on simulcasts of horse races televised under IC 4-31-7-7.
(b) Each permit holder shall pay a fee after the completion of each
racing meeting. This fee is in addition to the taxes imposed by section
3 of this chapter. Except as provided in subsection (c), the amount of
this fee is determined as follows:
(1) If the total amount of wagering at the racing meeting is less
than five million dollars ($5,000,000), the fee is one-tenth of one
percent (0.1%) of the total amount wagered.
(2) If the total amount of wagering at the racing meeting is five
million dollars ($5,000,000) or more, the fee is fifteen-hundredths
of one percent (0.15%) of the total amount wagered.
(c) The fees collected under this section from any one (1) permit
holder may not exceed fifteen thousand dollars ($15,000) from any one
(1) horse racing meeting in a calendar year.
(d) Within ten (10) days after the close of each racing meeting, the
permit holder shall forward the fee imposed by this section in equal
shares to the fiscal officers of the:
(1) city, if any;
(2) town, if any; and
(3) county;
in which the racing meeting took place. The city, town, or county may
use this money as general fund operating revenues.

Legislative History

As added by P.L.1-1990, SEC.44. Amended by P.L.210-2013, SEC.5.