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IN SB0540
Bill
Status
1/14/2015
Primary Sponsor
Philip Boots
Click for details
AI Summary
SB 540 Summary
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Authorizes licensed riverboat operators to relocate gaming operations from docked riverboats to inland casinos located on adjacent properties without requiring commission approval or paying relocation fees.
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Replaces the riverboat admissions tax with a new 2.5% supplemental wagering tax on adjusted gross receipts from gambling games, with tax revenue distributed to local governments, the state fair commission, and mental health/addiction programs.
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Authorizes table games (roulette, blackjack, craps, poker, and commission-approved games) at racetracks and establishes a graduated tax on table game wagering ranging from 15% to 40% based on adjusted gross receipt levels.
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Creates the Indiana Gaming Investment Tax Credit allowing licensed owners, operating agents, and permit holders a 10% credit for qualified capital investments exceeding $2 million made between January 1, 2016 and December 31, 2020, with a statewide annual cap of $40 million.
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Effective dates: July 1, 2015 for most provisions; January 1, 2016 for the tax credit provisions.
Legislative Description
Various gaming matters. Authorizes riverboats to move inland to adjacent properties. Replaces the riverboat admissions tax with a supplemental wagering tax. Eliminates the supplemental distribution from the existing wagering tax. Authorizes table games at the racinos. Imposes a separate wagering tax on table games. Establishes the Indiana gaming investment tax credit for certain capital investments that are made after December 31, 2015, and before January 1, 2021, by a licensed owner or operating agent of a riverboat or by a racino licensee. Provides that the amount of the tax credit is equal to 10% of the qualified capital investment made
Last Action
First Reading: referred to Committee on Public Policy
1/14/2015