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IN SB0405
Bill
AI Summary
SB 405 Summary
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Authorizes sports wagering at riverboats, racinos (gambling game facilities), and satellite facilities once the Indiana Gaming Commission determines federal prohibitions on sports wagering are repealed or declared unconstitutional.
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Imposes a 9.25% wagering tax on adjusted gross receipts from sports wagering, with tax payments due monthly to the Department of State Revenue.
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Requires initial application fees equal to the greater of 1% of adjusted gross receipts from the previous fiscal year or $500,000, plus annual administrative fees of $75,000.
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Establishes regulatory framework requiring commission approval of sports wagering devices, designated wagering areas within licensed facilities, age restrictions (minimum 21 years), and compulsive gambling detection and prevention measures.
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Effective July 1, 2018.
Legislative Description
Wagering on sports. Authorizes sports wagering at riverboats, racinos, and satellite facilities after the Indiana gaming commission determines that current federal prohibitions on sports wagering are no longer applicable. Provides for the administration, conduct, and taxation of sports wagering. Imposes initial and annual fees on a licensed owner, operating agent, or permit holder conducting sports wagering.
Last Action
First reading: referred to Committee on Public Policy
1/8/2018