Senate Bill 315 - Gaming Matters Summary

• Permits licensed riverboat owners to submit plans for constructing inland casinos within specified geographic boundaries, with commission approval based on economic development and state revenue potential; requires a $50,000,000 relocation fee.

• Allows licensed owners to convert self-propelled excursion boats into permanently moored vessels by removing propulsion and navigation equipment, subject to commission-determined marine safety standards.

• Reduces the admission tax on French Lick casino from $4 to $3 per person and eliminates distributions to the Indiana economic development corporation and West Baden Springs preservation fund, reallocating those percentages to other entities.

• Authorizes licensed owners and operating agents to conduct card tournaments and large gaming events in hotels or facilities owned or leased by them, subject to commission approval.

• Changes racetrack casino slot machine tax calculation to use "taxable receipts" (excluding amounts supporting horse racing) instead of adjusted gross receipts, phased in over four years starting July 1, 2010.