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Senate Bill 0091


Senate Bill 0091

ARCHIVE (2013)

Latest Information

 

DIGEST OF SB 91 (Updated April 15, 2013 5:57 pm - DI 84)


Motorsports investment district. Authorizes horse racing associations and racino licensees to negotiate the amount of slot machine receipts used to support the horse racing industry. Provides that the agreement must require between 9% and 11% of the licensee's adjusted gross receipts. Establishes the Indiana motorsports commission. Allows the commission to adopt a resolution establishing a motorsports investment district. Specifies that the budget committee shall review and make a recommendation to the budget agency regarding the resolution. Specifies that the maximum amount of revenue allocated to the district in a state fiscal year may not exceed $5,000,000. Provides that the Indiana finance authority may issue bonds for the purpose of obtaining money to pay the cost of improving, constructing, reconstructing, renovating, acquiring, or equipping improvements within a qualified motorsports facility. Provides that the amounts allocated to the district are loans that will be repaid from the growth in sales tax and individual adjusted gross income tax revenue realized within the district and from an admissions fee imposed on race day admissions to a qualified motorsports facility. Requires goals for participation in the procurement and contracting process involved with a motorsports investment district by minority business enterprises of 15%, women's business enterprises of 8%, and veteran or disabled business enterprises of 3%, consistent with the goals of delivering projects on time and within budget.
    Current Status:
     In Conference Committee
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