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Indiana Code Title 4. State Offices and Administration § 4-31-9-1.5

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1.5. (a) Except as provided in subsection (b), a person that holds a permit to conduct a horse racing meeting or a permit holder licensed to operate a satellite facility shall retain the following amounts from the money withheld under section 1 of this chapter:

(1) For pari-mutuel wagers made at a permit holder's racetrack on live races, an amount equal to:

(A) eight percent (8%) of the total amount of money wagered on win, place, and show pools on each racing day;  plus

(B) eleven and one-half percent (11.5%) of the total amount of money wagered on exotic wagering pools on each racing day.

(2) For pari-mutuel wagers made at a permit holder's satellite facility on simulcasts of races originating from the permit holder's racetrack, an amount equal to:

(A) ten percent (10%) of the total amount of money wagered on win, place, and show pools on each day;  plus

(B) thirteen and one-half percent (13.5%) of the total amount of money wagered on exotic wagering pools on each day.

(3) On the simulcast of races, for the Indiana sending or Indiana receiving track or its satellite facilities, the amount to be retained, after deducting:

(A) pari-mutuel tax payments owed to Indiana;  and

(B) the contractual obligations owed to the racetrack from which the races originated;

shall be determined, subject to the approval of the commission, by one (1) or more contracts between the applicable Indiana permit holders and the applicable horsemen's association.

(b) If requested in writing by a horsemen's association, the commission may reduce the amount that a permit holder must retain under subsection (a)(1), (a)(2), or (a)(3), or any combination of those subdivisions.  The commission must find that reducing the amount retained by the permit holder is in the best interests of horse racing in Indiana before granting the horsemen's association's request.

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Cite this article: FindLaw.com - Indiana Code Title 4. State Offices and Administration § 4-31-9-1.5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-4-state-offices-and-administration/in-code-sect-4-31-9-1-5/

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