Introduced Version






HOUSE BILL No. 1203

_____


DIGEST OF INTRODUCED BILL



Citations Affected: IC 4-33-2-2.

Synopsis: Riverboat gaming adjusted gross receipts. Requires that wagers made by riverboat patrons using noncashable vouchers, coupons, electronic credits, or electronic promotions provided by a licensee or operating agent be subtracted from the amounts received from gaming operations by the licensee or operating agent when calculating the adjusted gross receipts of the licensee or operating agent. (Under current law, cash paid out as winnings to patrons and a limited amount of uncollectible receivables are subtracted from the amounts received from gaming operations.)

Effective: July 1, 2012.





Dermody




    January 9, 2012, read first time and referred to Committee on Public Policy.







Introduced

Second Regular Session 117th General Assembly (2012)


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HOUSE BILL No. 1203



    A BILL FOR AN ACT to amend the Indiana Code concerning gaming.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 4-33-2-2; (12)IN1203.1.1. -->     SECTION 1. IC 4-33-2-2 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2012]: Sec. 2. (a) With respect to gaming operations conducted before July 1, 2012, "adjusted gross receipts" means:
        (1) the total of all cash and property (including checks received by a licensee or an operating agent), whether collected or not, received by a licensee or an operating agent from gaming operations; minus
        (2) the total of:
            (A) all cash paid out as winnings to patrons; and
            (B) uncollectible gaming receivables, not to exceed the lesser of:
                (i) a reasonable provision for uncollectible patron checks received from gaming operations; or
                (ii) two percent (2%) of the total of all sums, including checks, whether collected or not, less the amount paid out as winnings to patrons.
For purposes of this section, subsection, a counter or personal check that is invalid or unenforceable under this article is considered cash received by the licensee or operating agent from gaming operations.
     (b) With respect to gaming operations conducted after June 30, 2012, "adjusted gross receipts" means:
        (1) the total of all cash and property (including checks received by a licensee or an operating agent), whether collected or not, received by a licensee or an operating agent from gaming operations; minus
        (2) the sum of the following:
            (A) The total amount of cash paid out as winnings to patrons.
            (B) The total dollar amount of wagers made by a riverboat's patrons using noncashable vouchers, coupons, electronic credits, or electronic promotions provided by the licensee or operating agent.
            (C) The amount of uncollectible gaming receivables, not to exceed the lesser of:
                (i) a reasonable provision for uncollectible patron checks received from gaming operations; or
                (ii) two percent (2%) of the total of all sums, including checks, whether collected or not, less the amount paid out as winnings to patrons.
For purposes of this subsection, a counter or personal check that is invalid or unenforceable under this article is considered cash received by the licensee or operating agent from gaming operations.