DIGEST OF INTRODUCED BILL
Gaming revenues. Provides that the riverboat wagering tax and slot machine wagering tax are calculated using taxable receipts. Defines "taxable" receipts for riverboats as adjusted gross receipts minus amounts paid as promotional allowances. Defines taxable receipts for racinos as adjusted gross receipts minus the sum of a racino's promotional allowances and amounts paid to support the horse racing industry, the county in which the casino is located, and the French Lick casino. Reduces the amount of a racino's adjusted gross receipts set aside for horse racing from 15% to 10%. Removes adjustments for inflation from the $85,000,000 cap on the amounts set aside for horse racing. Authorizes table games at racinos. Imposes a tax on adjusted gross table game receipts at the rate of 25%. Requires the taxes to be deposited in the state general fund. Provides that a licensee is entitled to a refund of part of the slot machine wagering taxes remitted between June 1, 2008 and October 1, 2009. Provides that a refund is payable in 12 annual installments. Repeals an obsolete definition. Makes an appropriation.