PREVAILED Roll Call No. _______
FAILED Ayes _______
WITHDRAWN Noes _______
RULED OUT OF ORDER
HOUSE MOTION ____
I move that House Bill 1528 be amended to read as follows:
SOURCE: Page 1, line 1; (03)MO152802.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 4-33-2-10.5; (03)MO152802.1. -->
IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 10.5. As used in
"gross income" means all the gross receipts a licensed owner
receives from the sale, transfer, or exchange of:
(1) property, real or personal, tangible or intangible; or
(2) an owner's license issued under this article.
SOURCE: IC 4-33-4-21; (03)MO152802.2. -->
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 21. (a) A licensed
owner or any other person must apply for and receive the commission's
(1) an owner's license is:
(B) sold; or
(C) purchased; or
(2) a voting trust agreement or other similar agreement is
established with respect to the owner's license.
(b) The commission shall adopt rules governing the procedure a
licensed owner or other person must follow to take an action under
subsection (a). The rules must specify that a person who obtains an
ownership interest in a license must meet the criteria of this article and
any rules adopted by the commission. A licensed owner may transfer
an owner's license only in accordance with this article and rules
adopted by the commission.
(c) A licensed owner or any other person may not:
(2) hypothecate; or
(3) borrow or loan money against;
an owner's license.
(d) The commission shall impose a transfer fee upon a licensed
owner who sells, transfers, or exchanges an owner's license. The fee
imposed under this subsection is equal to:
(1) the gross income received from a transaction or a series of
transactions that includes the sale, transfer, or exchange of an
owner's license with:
(A) a person; or
(B) a person affiliated with that person;
(2) six percent (6%).
The gaming commission shall deposit a fee collected under this
subsection as follows:
(1) Fifty percent (50%) in the state general fund.
(2) Fifty percent (50%) in the local capital projects fund
(e) For purposes of this section, a person "affiliated" with a
specific person is a person that directly, or indirectly through one
(1) or more intermediaries:
(2) is controlled by; or
(3) is under common control with;
the person specified.".
SOURCE: Page 3, line 12; (03)MO152802.3. -->
Page 3, after line 12, begin a new paragraph and insert:
SOURCE: IC 4-33-16; (03)MO152802.6. -->
IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
Chapter 16. Local Capital Projects Fund
Sec. 1. As used in this chapter, "fund" means the local capital
projects fund established under section 2 of this chapter.
Sec. 2. The local capital projects fund is established for the
purpose of funding local capital projects. The fund shall be
administered by the treasurer of state. The expenses of
administering the fund shall be paid from money in the fund.
Sec. 3. The fund consists of money deposited in the fund under
and interest deposited in the fund under section 5 of
Sec. 4. Money in the fund may be used only for local capital
projects. Expenditures from the fund are subject to appropriation
by the general assembly.
Sec. 5. The treasurer of state shall invest the money in the fund
not currently needed to meet the obligations of the fund in the same
manner as other public money may be invested. Interest that
accrues from these investments shall be deposited in the fund.
Sec. 6. Money in the fund at the end of a state fiscal year does
not revert to the state general fund.".
Renumber all SECTIONS consecutively.
(Reference is to HB 1528 as printed February 20, 2003.)
MO152802/DI 92 2003