IN HB1350

Requires anyone claiming a race horse at an Indiana track to have sufficient funds on deposit with the permit holder to cover both the claiming price and the applicable use tax

Imposes a 7% use tax on the first claiming transaction for a race horse occurring after June 30, 2013; subsequent claims are taxed only on the increase in claiming price above the previous claim amount

Mandates that permit holders (track operators) collect use taxes from claimants at the time of the claiming transaction and remit those taxes to the Department of Revenue

Establishes a tax amnesty program for unpaid use taxes on claiming transactions that occurred before June 1, 2012, with voluntary payments or payment agreements due before January 1, 2014

Waives interest, penalties, collection fees, and potential civil or criminal prosecution for taxpayers who participate in the amnesty program and pay all use taxes owed