In response to massive gambling expansion in neighboring Ohio, some Indiana lawmakers and casino interests are pushing to make legislative changes that are favorable to the state’s own gambling industry. However, Indiana Gov. Mike Pence reportedly doesn’t support the plans, according to the Associated Press.
Senate Bill No. 0528, which is currently in committee, would, if passed and enacted in its current form, do many things to beef up the real-money wagering business.
Here’s a list of what the bill would accomplish:
- Authorizes the use of limited mobile gaming systems.
- Allows the horse racing commission to reduce the percentage that a permit holder is required to retain from amounts wagered if reducing the amount retained is in the best interests of horse racing in Indiana.
- Allows gaming licensees to deduct not more $2,000,000 per state fiscal year for adjusted gross receipts attributable to free play wagering, taken in equal amounts for patrons who reside in Indiana and for patrons who reside outside Indiana.
- Authorizes riverboats to move inland.
- Provides that the lowest bracket of the wagering tax rate schedule for riverboats and racinos that had less than $75,000,000 of adjusted gross receipts during the preceding state fiscal year is 5% instead of 15%.
- Imposes an additional tax of $2,500,000 if the riverboats and racinos taxed under the alternative schedule receive adjusted gross receipts exceeding $75,000,000 in a particular state fiscal year.
- Replaces the riverboat admissions tax with a supplemental wagering tax of 3.45%.
- Provides that entities are entitled to a 50% supplemental distribution in 2014 and no supplemental distribution revenue in a state fiscal year that begins after June 30, 2015.
- Specifies the percentage of riverboat supplemental wagering tax to be distributed to various entities.
- Specifies that the state fair commission and the division of mental health and addiction are not entitled to receive any distributions of riverboat supplemental wagering tax made after June 30, 2014.
- Reallocates the percentage received by the state fair commission and the division of mental health and addiction to other entities receiving distributions of the tax.
- Provides that the riverboat wagering tax revenue sharing for counties without a riverboat is based on a percentage of tax revenue received (rather than a flat $33,000,000 distribution).
- Provides that certain local development agreement reports must be made available through the Indiana transparency web site for local government.
- Authorizes table games at the racinos.
- Provides that the racino wagering tax rates match the rates imposed under the riverboat wagering tax.
- Requires a racino in Shelby County to resume paying the supplemental fee at 2%, 1%, and 1% in each of the next three state fiscal years.
- Establishes the Indiana gaming investment tax credit for certain capital investments that are made after December 31, 2013, and before January 1, 2019, by a licensed owner or operating agent of a riverboat or by a racino licensee.
- Provides that the amount of the tax credit is equal to 10% of the qualified capital investment made by the taxpayer during the taxable year.
- Specifies that the total amount of tax credits awarded may not exceed $40,000,000 in a state fiscal year.
- Adds gaming agents and gaming control officers to the definition of “law enforcement officer” for purposes of the criminal code.
According to the American Gaming Association, Indiana has 13 commercial gambling joints. The state has a commercial gambling industry that takes in more than $2.5 billion a year.
For more news and tournament info for Indiana, check out its state page.
