Note: This version of section amended by P.L.108-2019, SEC.77. See also following version of this section amended by P.L.168-2019, SEC.19.

Sec. 12.5. (a) A licensee shall annually withhold the sum of:

(1) the product of:

(A) seventy-five thousand dollars ($75,000); multiplied by

(B) the number of racetracks operated by the licensee;

from the amount that must be distributed under section 12(b) of this chapter; and

(2) forty-five hundredths percent (0.45%) of the adjusted gross receipts from the previous month at each casino operated by the licensee.

(b) A licensee shall transfer the amount withheld under subsection (a)(1) to the Indiana horse racing commission for deposit in the gaming integrity fund established by IC 4-35-8.7-3. Money transferred under this subsection must be used for the purposes described in IC 4-35-8.7-3(f)(1).

(c) A licensee shall transfer the amount withheld under subsection (a)(2) to the Indiana horse racing commission for deposit in the Indiana horse racing commission operating fund established by IC 4-31-10-2.

As added by P.L.213-2015, SEC.53. Amended by P.L.108-2019, SEC.77.

Note: This version of section amended by P.L.168-2019, SEC.19. See also preceding version of this section amended by P.L.108-2019, SEC.77.

Sec. 12.5. (a) This section applies to adjusted gross receipts received after June 30, 2015.

(b) A licensee shall annually withhold the product of:

(1) seventy-five thousand dollars ($75,000); multiplied by

(2) the number of racetracks operated by the licensee;

from the amount that must be distributed under section 12(b) of this chapter.

(c) A licensee shall transfer the amount withheld under subsection (b) to the Indiana horse racing commission for deposit in the gaming integrity fund established by IC 4-35-8.7-3. Money transferred under this subsection must be used for the purposes described in IC 4-35-8.7-3(f)(1).

As added by P.L.213-2015, SEC.53. Amended by P.L.168-2019, SEC.19.