Signed by Governor Mitch Daniels, Jr.

Vote Smart's Synopsis:

Vote to pass a bill allowing the operation of slot machines at horse racetracks.

Highlights:

-Defines a “live racing day” as a day on which eight or more live horse races are conducted (sec. 2). -Requires racetracks to have between 140 and 165 days of live racing in order to maintain their racing permit (sec. 6). -Limits the number of satellite gaming facilities run by a gaming permit holder to the number of satellite facilities licenses held on January 1, 2007 (sec. 7). -Increases the riverboat wagering tax rate on adjusted gross receipts exceeding $600,000,000 to 40% (sec. 18). -Requires recipients of gaming licenses to pay a $250,000,000 licensing fee to the property tax reduction trust fund (sec. 21). -Imposes a slot machine tax equal to: (1) 25% of the first $100,000,000 of adjusted gross receipts received; (2) 30% of on receipts between $100,000,000 - $200,000,000; and (3) 35% on receipts over $200,000,000 (sec. 21). -Requires racetrack licensees that offer slot machines to pay a “problem gambling” fee of $500,000 for each racetrack where there are slot machines, to help fund the division of mental health and addiction (sec. 21).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill allowing the operation of slot machines at horse racetracks.

Highlights:

-Defines a “live racing day” as a day on which eight or more live horse races are conducted (sec. 2). -Requires racetracks to have between 140 and 165 days of live racing in order to maintain their racing permit (sec. 6). -Limits the number of satellite gaming facilities run by a gaming permit holder to the number of satellite facilities licenses held on January 1, 2007 (sec. 7). -Increases the riverboat wagering tax rate on adjusted gross receipts exceeding $600,000,000 to 40% (sec. 18). -Requires recipients of gaming licenses to pay a $250,000,000 licensing fee to the property tax reduction trust fund (sec. 21). -Imposes a slot machine tax equal to: (1) 25% of the first $100,000,000 of adjusted gross receipts received; (2) 30% of on receipts between $100,000,000 - $200,000,000; and (3) 35% on receipts over $200,000,000 (sec. 21). -Requires racetrack licensees that offer slot machines to pay a “problem gambling” fee of $500,000 for each racetrack where there are slot machines, to help fund the division of mental health and addiction (sec. 21).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill allowing the operation of slot machines at horse racetracks.

Highlights:

-Requires racetracks to have at least 140 days of live racing in order to maintain their racing permit (sec. 6). -Grants only two gambling game licenses (to Hoosier Park and Indiana Downs) and limits each licensee to 2,500 slot machines (sec. 21). -Requires an initial licensing fee of $400 million and institutes an annual fee of $250,000 on all racetracks operating slot machines to be deposited in the gaming integrity fund (sec. 21). -Imposes a graduated slot machine gambling tax, taxing 25 percent for the first $100 million, 30 percent for all revenue between $100 million and $200 million, and 35 percent on all revenue in excess of $200 million. Deposits revenue in the state racetrack gaming fund (sec. 21). -Requires that 15 percent of monthly slot machine revenues collected by the racetracks be used in the promotion of horse racing and horse welfare (sec. 21). -Declares the act an emergency, effective immediately (sec. 32).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill allowing the operation of slot machines at horse racetracks.

Highlights:

- Grants only two gambling game licenses (to Hoosier Park and Indiana Downs) and limits each licensee to 2,500 slot machines (sec. 16). - Establishes an initial licensing fee of $100 million (sec. 16). - Requires licensees to retain a gambling game license for a minimum of 10 years and establishes a $5,000 annual renewal fee (sec. 16). - Imposes a tax of 37.5 percent on slot machine profits (sec. 16). - Distributes tax revenue between the state racetrack gaming fund, counties in which race tracks are located, the state general fund, and the Indiana health insurance fund (sec. 16). - Requires that 15 percent of monthly slot machine revenues collected by the race track be used in the promotion of horse racing and horse welfare (sec. 16). -Declares the act an emergency, effective immediately (sec. 32).

Full Bill Text

Full Bill Text