Senate Bill 607 Summary

• Reduces the racetrack casino slot machine revenue dedicated to horse racing support from 15% to 12% and designates this amount as a "racing support fee" rather than a subsidy distribution.

• Establishes the Indiana Horse Racing Support Fund to receive daily racing support fee remittances and appropriates fund money to the Indiana Horse Racing Commission for distribution to horsemen's associations, purse supplements, the state fair commission, and breed development funds.

• Subtracts racing support fees and county slot machine wagering fees from adjusted gross receipts for calculating the slot machine wagering tax, while specifying that annual license renewal fees, tobacco cessation support fees, gaming integrity fees, and problem gambling fees cannot be subtracted from adjusted gross receipts.

• Converts the annual license renewal fee from a flat $100 per slot machine to a two-part fee consisting of $100 per slot machine plus an amount equal to what was previously paid under the old horse racing support distribution formula.

• Increases the gaming integrity fee from $250,000 to $500,000 annually per racetrack and repeals obsolete provisions relating to riverboat subsidies for horse racing and supplemental fees (effective July 1, 2013; some provisions retroactive to January 1, 2013).