HB 1046 Summary

• Requires permit holders to transfer balances from unclaimed pari-mutuel wagering tickets ("outs tickets") from calendar years beginning after December 31, 2011 to the Department of State Revenue before March 15 each year.

• Department of State Revenue must distribute received funds to the county treasurer of the county where the permit holder's racetrack is located within 45 days.

• County treasurers must deposit distributed funds into a newly established county road improvement fund under IC 8-14-18.

• County road improvement funds may only be used for construction, maintenance, and improvement of highways, roads, and bridges, and cannot be spent on county employee salaries or administrative expenses.

• Effective July 1, 2012.