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HB 1729 - Gaming Facility Tax Amendments - Indiana Key Vote

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Title: Gaming Facility Tax Amendments

Vote Smart's Synopsis:

Vote to pass a bill that allows a new wagering tax deduction for riverboats and temporarily reduces slot machine wagering tax rates.

Highlights:

-Defines "promotional allowance" as any amount expended by a riverboat patron to make a complimentary wager or to play a gambling game without consideration (Sec. 2). -Reduces temporarily the graduated slot machine wagering tax beginning after June 30, 2009 to the following levels (Sec. 3):

    -20 percent of the first $100 million dollars in adjusted gross receipts for each fiscal year; -25 percent of any amount over $100 million but not exceeding $200 million dollars in adjusted gross receipts for each fiscal year; and -30 percent of any amount over $200 million dollars in adjusted gross receipts for each fiscal year.
-Specifies that the slot machine wagering tax shall revert to the following levels which were in effect prior to the enactment of this bill for each fiscal year beginning July 1, 2013 (Sec. 3):
    -25 percent of the first $100 million in adjusted gross receipts for each fiscal year; -30 percent of any amount over $100 million but not exceeding $200 million in adjusted gross receipts for each fiscal year; and -35 percent of any amount over $200 million in adjusted gross receipts for each fiscal year.

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