HB 1528-6_ Filed 04/09/2003, 09:56 Alting



    I move that Engrossed House Bill 1528 be amended to read as follows:

SOURCE: Page 1, line 1; (03)MO152803.1. -->     Page 1, between the enacting clause and line 1, begin a new paragraph and insert:
SOURCE: IC 4-33-2-10.5; (03)MO152803.1. -->     "SECTION 1. IC 4-33-2-10.5 IS ADDED TO THE INDIANA 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; and
        (2) an owner's license issued under this article.

SOURCE: IC 4-33-4-21; (03)MO152803.2. -->     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:
            (A) transferred;
            (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:
        (1) lease;
        (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;         multiplied by
        (2) three percent (3%).

The gaming commission shall deposit a fee collected under this subsection in the state general fund to be used for reading diagnostic assessment. The above appropriation is in addition to the appropriations in the budget for reading diagnostic assessment. Money collected under this subsection for reading diagnostic assessment is annually appropriated to the Department of Education.
     (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, controls, or is controlled by, or is under common control with, the person specified.".
    Renumber all SECTIONS consecutively.
    (Reference is to EHB 1528 as printed April 4, 2003.)


Senator ALTING

RS 152801/DI al