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Senate Bill 0405


Senate Bill 0405

ARCHIVE (2010)

Latest Information

 

DIGEST OF SB 405 (Updated February 17, 2010 3:51 pm - DI 14)


Gaming matters. Authorizes advance deposit wagering on horse racing. Provides that the gaming commission has continuous jurisdiction over development agreements, economic development payments, disbursements to third party recipients, and expenditures of third party recipients. Establishes reporting requirements for entities that receive economic development payments and third party recipients. Provides that reports are public records. Grants subpoena power to the gaming commission in its exercise of jurisdiction over development agreements. Permits a licensed owner to convert a riverboat into a permanently moored vessel without propulsion or navigation equipment. Provides for submission of plans and commission approval of the construction of a permanently moored vessel to replace a licensed owner's self-propelled excursion boat. Provides that a licensed owner converting a self-propelled excursion boat into a permanently moored vessel is not required to substantially alter the marine structural and life safety systems of the excursion boat if the excursion boat was in service before January 1, 2010. Removes obsolete provisions concerning the original riverboat licensing process. Updates provisions referring to the French Lick casino to conform to recent improvements to the casino. Authorizes a licensed owner or an operating agent to conduct card tournaments in a hotel or other facility owned or leased by the licensed owner or operating agent. Reduces the admissions tax imposed at the French Lick riverboat from $4 to $3. Eliminates admissions tax distributions to the Orange County development commission and the West Baden Springs historic hotel preservation and maintenance fund (fund). Adjusts the amounts paid to other recipients of the admissions tax collected at French Lick. Eliminates certain restrictions under which the holder of a gaming permit may pay for complimentary drinks at certain events. Requires the alcohol and tobacco commission to adopt rules allowing gaming site permit holders to engage in certain trade practices and marketing activities. Provides that riverboat wagering taxes previously transferred to the Orange County convention and visitors bureau must be transferred to the Orange County development commission and the Indiana economic development corporation. Permits the operating agent to submit claims for the reimbursement of certain expenditures for the maintenance of the West Baden Springs Hotel and its surrounding grounds. Requires the department of natural resources to pay the claims. Provides that slot machine revenue devoted to horse racing is capped at the lesser of: (1) 15% of a racino's adjusted gross receipts; or (2) the amount devoted in the previous state fiscal year multiplied by 1.03. (Current law caps the amount at the lesser of: (1) 15% of a racino's adjusted gross receipts; or (2) the amount devoted in the previous state fiscal year increased by a percentage that does not exceed the percent of increase in the United States Department of Labor Consumer Price Index during the year preceding the year in which an increase is established.) Makes technical corrections. Annually appropriates interest accruing to the fund for the purpose of paying claims submitted by the operating agent. Repeals an obsolete definition.
    Current Status:
     Out of Committee 2nd House
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