Indiana § 4-31-9-9 Taxation of satellite facility wagers; distribution

Indiana Statutes

§ 4-31-9-9 — Taxation of satellite facility wagers; distribution

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

(a)Before January 15 and July 15 of each year, each permit holder that operates satellite facilities shall forward to the state comptroller an amount equal to one-half of one percent (0.5%) of the total amount of money wagered at that permit holder's satellite facilities during the six (6) month period ending on the last day of the preceding month. The state comptroller shall distribute amounts received under this section as follows:

(1)Fifty percent (50%) of the amounts received shall be deposited in the livestock industry promotion and development fund established by IC 15-11-5-4.

(2)Fifty percent (50%) of the amounts received shall be distributed to the state fair commission for use in any activity that the commission is authorized to carry out under IC 15-13-3.

(b)Payments required

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(a) Before January 15 and July 15 of each year,
each permit holder that operates satellite facilities shall forward to the
state comptroller an amount equal to one-half of one percent (0.5%) of
the total amount of money wagered at that permit holder's satellite
facilities during the six (6) month period ending on the last day of the
preceding month. The state comptroller shall distribute amounts
received under this section as follows:
(1) Fifty percent (50%) of the amounts received shall be deposited
in the livestock industry promotion and development fund
established by IC 15-11-5-4.
(2) Fifty percent (50%) of the amounts received shall be
distributed to the state fair commission for use in any activity that
the commission is authorized to carry out under IC 15-13-3.
(b) Payments required by this section shall be made from amounts
withheld by the permit holder under section 1 of this chapter.

Indiana § 4-31-9-9 (Taxation of satellite facility wagers; distribution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.