Indiana Code 4-31-7.5-18. “Net source market fee”; fee payments; horse racing promotion
(1) the amount of the source market fee received by a permit holder from a licensed SPMO; minus
Terms Used In Indiana Code 4-31-7.5-18
- advance deposit wagering: means a system of pari-mutuel wagering in which wagers of an account holder are debited and payouts are credited to an account established by the account holder, regardless of whether the wagers are made in person, by telephone, or through communication by other electronic means. See Indiana Code 4-31-7.5-3
- licensed SPMO: means a secondary pari-mutuel organization licensed under this chapter. See Indiana Code 4-31-7.5-6
- Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
- source market fee: refers to the amount of an advance deposit wager made on any race:
Indiana Code 4-31-7.5-8
(b) Each permit holder shall not later than the end of each month pay to the commission as an advance deposit wagering fee an amount equal to sixty percent (60%) of the net source market fee received from a licensed SPMO during the preceding month.
(c) The commission shall use twenty-five percent (25%) of the revenue received from advance deposit wagering fees under subsection (b) to promote horse racing at the state fair and county fairs.
(d) The commission shall use seventy-five percent (75%) of the revenue received to promote and encourage Indiana horse owner and horse trainer participation at a permit holder’s horse racing facility as follows:
(1) Eight percent (8%) of the revenue described shall be distributed to the horsemen’s association representing quarter horses.
(2) Forty-six percent (46%) of the revenue shall be distributed to the horsemen’s association representing standardbred owners and trainers.
(3) Thirty-six and eight-tenths percent (36.8%) of the revenue shall be distributed to the horsemen’s association representing thoroughbred owners and trainers.
(4) Nine and two-tenths percent (9.2%) of the revenue shall be distributed to the horsemen’s association representing thoroughbred owners and breeders.
As added by P.L.268-2017, SEC.12.