that Engrossed House Bill 1528 be amended to read as follows:
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
"SECTION 1. IC 4-33-2-10.5 IS ADDED TO THE INDIAN CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 10.5 As used in IC 4-33-4-21(d), "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.
SECTION 2. IC 4-33-4-21 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 approval before:
(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