HB 1353 Summary

• Replaces the riverboat admissions tax with a new supplemental wagering tax of 2.5% on adjusted gross receipts from riverboat gaming operations effective July 1, 2013.

• Modifies the definition of "adjusted gross receipts" to subtract wagers made using noncashable vouchers, coupons, electronic credits, or electronic promotions provided by licensees, in addition to cash winnings paid out and uncollectible receivables.

• Establishes distribution formulas for supplemental wagering tax revenue to cities, counties, convention bureaus, state fair commission, mental health and addiction services, and state general fund, with different percentages depending on riverboat location (LaPorte County, Lake County, Orange County, or counties adjacent to Ohio River).

• Applies the same adjusted gross receipts modifications to racetrack casino gaming operations under comparable wagering tax provisions.

• Makes conforming changes throughout the Indiana Code to replace references to the repealed admissions tax with the new supplemental wagering tax in revenue-sharing, school foundation, and county finance provisions.