Indiana Administrative Code
Title 71 - INDIANA HORSE RACING COMMISSION
Article 12 - SATELLITE FACILITY AND SIMULCASTING
Rule 2 - Operations
Section 2-15 - Allocation of riverboat gambling admissions tax revenue
Universal Citation: 71 IN Admin Code 2-15
Current through March 20, 2024
Authority: IC 4-31-3-9; IC 4-33-12-6
Affected: IC 4-31-11-10
Sec. 15.
(a) An association must be racing live in order to be eligible to receive distributions of riverboat gambling admissions tax revenue pursuant to this section.
(b) The commission shall allocate the riverboat gambling admissions tax revenue distributed to the commission by the treasurer of state pursuant to IC 4-33-12-6 as follows:
(1) Nineteen and six-tenths percent (19.6%)
divided between the standardbred breed development fund, thoroughbred breed
development fund, and quarter horse breed development fund as established by
the commission under IC 4-31-11-10 as follows:
(A) Forty-eight (48%) to standardbred breed
development.
(B) Forty-eight (48%)
to thoroughbred breed development; and
(C) Four (4%) to quarter horse breed
development.
(2)
Thirty-nine and two-tenths percent (39.2%) to purses for the benefit of
horsemen, which shall be divided forty-nine percent (49%) to standardbred
purses, forty-nine percent (49%) to thoroughbred purses, and two percent (2%)
to quarter horse purses. If more than one (1) track races standardbreds or
thoroughbreds, purses for that breed shall be divided to the purse accounts of
the tracks in question proportionally based upon the number of live race dates
for that breed. If more than one (1) track races quarter horses, purses for
that breed shall be divided to the purse accounts of the tracks in question
proportionally based upon the number of live races for that breed. To the
extent practical, the revenue received under this subsection shall be
distributed as purses for the benefit of horsemen in the year in which the
revenue is received.
(3) In a year
in which only one (1) association conducts live pari-mutuel racing, forty-one
and two-tenths percent (41.2%) shall go to the association after the first five
hundred thousand ($500,000) is distributed as follows:
(A) Two hundred thousand ($200,000) to the
thoroughbred development fund.
(B)
Two hundred thousand ($200,000) to the standardbred development fund.
(C) One hundred thousand ($100,000) to the
quarter horse development fund.
Such revenue may be used by the association for purses, promotions, and routine operations of the race track. Provided, however, that such monies shall not be used for long term capital investment or construction.
(4) In a year in which more than one (1)
association conducts live pari-mutuel racing, forty-one and two-tenths percent
(41.2%) to the associations, which shall be divided equally between
associations if each association races an extended race meet of both
standardbred and thoroughbred/quarter horse as defined by
71 IAC 1-1-41.5 and
71 IAC 1.5-1-37.5.
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